Europol dismantles $700 million crypto laundering network in Cyprus, Germany, and Spain

Europol dismantled a cryptocurrency money laundering network valued at over $700 million, arresting nine individuals. The operation involved raids in Cyprus, Germany, and Spain, seizing approximately $1.7 million in assets including cash and cryptocurrency. Scammers used fake platforms and deepfake ads to target victims. The network utilized fraudulent investment platforms and affiliate marketing schemes. This two-stage campaign targeted both the laundering infrastructure and the advertising used to lure victims.