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Dutch police said they dismantled an international investment fraud operation that allegedly used fake cryptocurrency trading platforms and bogus financial advisers to steal from victims worldwide. Investigators said the network had operated since at least 2021 through roughly 20 to 24 call centers in multiple countries, with more than 700 staff persuading targets to invest and then showing fictitious profits to induce additional payments. Authorities linked at least 550 fraud reports and about $28.6 million in reported losses to the group, while estimating victims in the Netherlands alone lost nearly €25 million and that tens of thousands of people may have been affected globally.
Authorities made multiple arrests across several countries and identified a 46-year-old Israeli-Polish suspect as a central figure in the scheme. The suspect, described as a well-known hacker, was arrested in Poland on May 26 and extradited to the Netherlands; investigators allege he played a key technical and organizational role in helping the group conceal identities, mask call-center locations, and evade law enforcement. Dutch investigators said they traced IP addresses, financial routes, and other digital evidence to map the organization’s infrastructure, and believe the operation at one point generated more than €100 million per month.
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The new reference states that Belgian police detained five employees linked to the investment fraud organization. This expands the known enforcement action beyond the previously documented arrests of key suspects in multiple countries.
Dutch and Belgian suspects tied to the investment fraud investigation were arrested in Cyprus, Greece, and Belgium between July 7 and July 10. The arrests expanded the enforcement action beyond the previously noted main suspect and reflected broader international coordination.
Dutch authorities said they dismantled the international investment fraud organization and made multiple arrests across several countries tied to the scheme. Investigators linked the group to tens of thousands of victims worldwide and major financial losses.
After his arrest in Poland, the main suspect was extradited to the Netherlands to face the investigation into the international investment fraud operation.
Investigators said the international investment fraud organization had been operating since at least 2021, using fake investment platforms, call centers, and technical measures to conceal identities and locations.
A 46-year-old Israeli-Polish national identified as a central technical and organizational figure in the fraud network was arrested in Poland on 2026-05-26.
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Austrian and Albanian authorities, supported by **Europol** and **Eurojust**, dismantled a large online investment fraud operation that allegedly stole at least **€50 million** from victims across Europe and other regions. The network operated from call centers in **Tirana, Albania**, where investigators said it was run like a legitimate business with up to **450 employees** spanning management, finance, IT, HR, customer acquisition, and retention roles. Victims were lured through fake broker and cryptocurrency investment platforms promoted on search engines, websites, and social media, then pressured by multilingual operators posing as brokers or advisers to transfer more money. A coordinated action on **17 April** led to **10 arrests**, searches of **three call centers** and **nine homes**, and the seizure of **€891,735 in cash** along with hundreds of computers and phones. Investigators said the group used remote access software and an international money-laundering scheme to divert funds rather than invest them, and in some cases targeted victims a second time with a bogus recovery service that demanded a **€500** cryptocurrency payment. Authorities said the seized infrastructure and data are expected to support additional investigations in other affected countries.
Jul 3, 2026
European law enforcement agencies arrested nine individuals suspected of operating a large-scale cryptocurrency investment fraud network that defrauded victims of over €600 million. The suspects allegedly created dozens of fake cryptocurrency investment platforms, luring victims with promises of high returns through social media ads, cold calls, and fabricated celebrity endorsements. Once funds were transferred, victims were unable to recover their money, while the criminals laundered the stolen assets using blockchain technology. The coordinated operation, led by Eurojust and involving authorities from France, Belgium, Cyprus, Spain, and Germany, resulted in simultaneous arrests and searches in Cyprus, Spain, and Germany, with significant seizures of cash, cryptocurrencies, and bank assets. The investigation revealed that the network used sophisticated methods to conceal the origins of the stolen funds, cycling them through various wallets and exchanges. Authorities seized €800,000 in bank accounts, €415,000 in cryptocurrencies, and €300,000 in cash during the raids. The operation underscores the growing threat of organized cybercrime leveraging fake investment platforms to target individuals across Europe, and highlights the importance of international cooperation in combating large-scale financial fraud in the cryptocurrency sector.
Jun 29, 2026
Spanish National Police, working with international partners, dismantled a cybercrime organization accused of stealing and laundering about **€140 million** through fake investment platforms, **business email compromise (BEC)**, CEO fraud, invoice fraud, and man-in-the-middle attacks. Investigators said the group operated an industrial-scale laundering network tied to more than **800 bank accounts**, **120 business accounts**, **19 companies**, and **67 money mules**, with confirmed links to over **€94 million** in transactions and another **€61 million** connected to 2024 CEO fraud activity. Authorities arrested **four suspects** in Spain, Portugal, and Panama during an operation supported by **Europol** and **Interpol**. Raids in Spain and Portugal led to the seizure of computers, smartphones, and other digital devices allegedly used in the schemes, while police froze **€3 million** in criminal proceeds for potential victim restitution. Officials said the network’s main operators were taken into custody and the laundering infrastructure was effectively dismantled, though the investigation into its wider international links remains ongoing.
Jul 16, 2026