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International Task Force Dismantles $815 Million Crypto Fraud Network

International Task Force Dismantles $815 Million Crypto Fraud Network

Europol-coordinated raids across Europe dismantled a multinational crypto fraud ring using deepfake ads, aggressive call centers and cross-blockchain laundering schemes to steal and disguise over €700 million.

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Fact Check
The statement's core claims—that an international operation dismantled a major crypto fraud network—are strongly corroborated by two highly authoritative and relevant primary sources: an official press release and a social media post from Europol. Both sources confirm an international takedown of a cryptocurrency fraud and money laundering network. The primary discrepancy lies in the exact value. The sources state the network laundered 'over EUR 700 million' (approximately $760 million USD), whereas the statement claims a more specific '$815 million.' This difference does not represent a direct contradiction. The phrase 'over EUR 700 million' establishes a minimum value, and the $815 million figure could represent a more precise or updated valuation, or be the result of a different currency conversion rate. Given that the fundamental event is confirmed by the most credible sources possible, the statement is assessed as likely true, with the slight numerical variance being the only point of minor uncertainty. The other provided sources are irrelevant as they either discuss general fraud prevention or entirely different criminal cases.
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Summary

Europol announced the dismantling of a crypto fraud network that stole and laundered more than €700 million ($815 million) through fake investment platforms. The scheme employed deepfake-driven marketing, aggressive call-center tactics and laundering flows across multiple blockchains. Coordinated raids on Oct. 27 in Cyprus, Germany and Spain led to nine arrests and the seizure of bank funds, crypto assets, cash, electronics and luxury goods. A second wave on Nov. 25–26 targeted the affiliate-marketing infrastructure behind fraudulent ad campaigns and data harvesting. Authorities also seized key servers and continue tracing assets across Europe and beyond. The takedown comes days after Europol's crackdown on a crypto-mixing service allegedly laundering $1.51 billion in bitcoin.

Terms & Concepts
  • Money Laundering: The process of concealing the origins of illegally obtained funds, often by transferring them through complex financial systems.
  • Cryptocurrency Fraud: Illegal schemes involving digital currencies aimed at deceiving investors or users for financial gain.
  • Blockchain: A distributed digital ledger that records transactions across multiple computers, enabling secure, transparent and tamper-resistant record-keeping.