Spanish Guardia Civil, with Europol and international forces, bring down crypto investment fraud syndicate targeting thousands worldwide.
On 25 June 2025, the Spanish Guardia Civil, backed by Europol and law enforcement from Estonia, France, and the United States, dismantled a criminal network responsible for a large-scale crypto investment fraud scheme. Authorities arrested five individuals connected to the crypto investment operation, which deceived more than 5,000 victims globally and laundered EUR 460 million in illicit funds through crypto investment scams.
During the action day, five property searches were conducted — three in the Canary Islands and two in Madrid.
Since 2023, Europol has been actively supporting the investigation into the investment scheme. Its financial crime experts provided operational coordination, strategic analysis, and operational support to the Spanish authorities. A specialist was dispatched to Spain on action day to aid national investigators in securing the success of the operation.
The criminal network behind the investment fraud operated a sophisticated system of sales agents globally. These associates were tasked with raising funds via cash withdrawals, bank transfers, and it transfers.
It’s suspected the organisation established a complex corporate and banking structure in Hong Kong to process and disguise funds derived from the cryptocurrency investment fraud. This was allegedly done through payment gateways and user accounts opened under various names and across different cryptocurrency exchanges. The investigation into the investment operation remains ongoing.
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The following law enforcement agencies took part in dismantling the investment fraud network:
Estonia: Police and Border Guard Board (Politsei- ja Piirivalveamet)
France: New Caledonia National Gendarmerie (Gendarmerie Nationale)
Spain: Guardia Civil
USA: Homeland Security Investigations (HSI)
Online fraud, particularly it investment scams, continues to pose one of the most severe threats to the EU’s internal security. Europol’s Serious and Organised Criminal Threat Assessment (EU SOCTA), released in March 2025, highlights online fraud as a rapidly growing danger. The unprecedented scale, sophistication, and reach of crypto investment fraud schemes — fueled by AI, social engineering, and extensive access to personal data — have made it one of the fastest-expanding organised crime threats in Europe.
