A coordinated police operation across Europe has led to the arrest of five individuals accused of running a sprawling cryptocurrency investment scam that defrauded unsuspecting victims of at least €100 million. The joint action, carried out in Spain, Portugal, Italy, Romania, and Bulgaria, targeted an elaborate scheme that operated across 23 countries since at least 2018, drawing attention once again to the growing threat of digital financial fraud.

According to Eurojust, the European Union Agency for Criminal Justice Cooperation, the arrests included the suspected mastermind of the fraud, who is now under investigation for large-scale fraud and money laundering. During the operation, police conducted simultaneous searches, froze multiple bank accounts, and seized assets linked to the scheme. Europol, which has supported the investigation since September 2020, also deployed a cryptocurrency specialist to Portugal to assist in tracing and seizing digital assets tied to the operation.

The arrests were the culmination of years of investigation involving law enforcement agencies across Europe. Eurojust coordinated European Arrest Warrants, Investigation Orders, and freezing orders, while also helping establish a joint investigation team between Spain and Lithuania. This cooperation was crucial in navigating the complex legal and jurisdictional challenges that typically arise in international fraud cases.

Investigators revealed that the fraud was orchestrated through sophisticated, professionally designed online platforms that promised investors high returns from cryptocurrency trading and investment. These websites, polished in appearance and........

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