VALLETTA (MALTA) (ITALPRESS/MNA) – An international police operation coordinated by Europol has dismantled a sophisticated criminal network running fake cryptocurrency investment platforms across Europe.

The operation followed years of investigation into a ring that lured thousands of victims with polished online advertisements promising high returns. Among them were four Maltese investors who collectively lost €493,750 after being deceived by impostor financial advisers.

Malta’s Blockchain Analysis Unit identified the cases, revealing that victims were instructed to use remote-access tools and hand over personal documents. The stolen funds were routed through banks, credit cards and cryptocurrency channels.

The fraudsters relied heavily on aggressive online marketing, including deepfake videos featuring fabricated endorsements from celebrities and politicians. Once users showed interest, they were targeted by call centres that used pressure tactics and fake profit statements to secure more payments.

In October, coordinated raids in Cyprus, Germany and Spain resulted in nine arrests. Authorities seized €800,000 in bank accounts, €415,000 in cryptocurrency, €300,000 in cash, digital devices and luxury watches.

A second phase in November targeted companies behind fraudulent advertising campaigns, with actions in Belgium, Bulgaria, Germany and Israel.

Investigators uncovered more than €700 million laundered through cryptocurrency exchanges, exploiting digital anonymity to hide illegal transactions.

Authorities from eight countries, including Malta, continue to track the network’s assets as the investigation widens.

– Photo IPA Agency –

(ITALPRESS).

Source: medNews