Spanish police bust suspected of crypto fraud allegedly allegedly stealing $ 540m from 5k victims
Spanish police arrested five members of a suspected crypto fraud operation allegedly laundered 460 million euro ($ 540 million) stolen from more than 5,000 victims.
Bust, conducted by Guarda Civil, the armed wing of the country’s law enforcement agencies, found three arrests from searches in the Canary Islands and two in Madrid on June 25.
The investigation was supported by Europol, as well as police forces from Estonia, France and the US
The criminal network raises funds through cash backwards, bank transfer and crypto payment, Europol said in a statement on Monday.
Investigators suspect the organization of having a corporate and banking network outside Hong Kong to receive, store and transfer criminal funds through accounts in different names and to different exchanges.
The investigation is still emerging, Europol added.
