Dutch Police Dismantle Global Crypto Investment Fraud Network

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.