A major international investigation led by Eurojust, the European Union’s judicial cooperation agency, has resulted in the arrest of nine individuals accused of running a large-scale cryptocurrency investment scam. The operation, supported by prosecutors from France, Belgium, Spain, Germany, and Cyprus, targeted a network allegedly behind a series of fake crypto investment websites.

According to Eurojust, the suspects created fraudulent online platforms, fabricated news stories, deceptive advertisements, and false celebrity endorsements to lure victims into investing in non-existent digital assets. The scheme is believed to have laundered approximately €600 million through various channels.

Between October 27 and 29, authorities carried out coordinated raids, leading to the nine arrests and the seizure of significant assets — including €800,000 in bank accounts, €415,000 in cryptocurrency, and €300,000 in cash.

The crackdown follows closely on the heels of a separate U.S. operation in which prosecutors seized around $15 billion worth of Bitcoin linked to what has been described as one of the largest cryptocurrency fraud and human trafficking operations ever uncovered.

Together, these actions highlight a growing international effort to combat financial crime and money laundering in the cryptocurrency sector.