Crypto fraud and laundering ring that stole $689 million busted by European authorities — 9 arrests made across multiple countries, perps face a decade behind bars and huge fines

Crypto hacker.

Despite it being the year 2025 and with all our technology at hand, financial scams are still far too common. Thankfully, authorities everywhere are on the case, as evidenced by a European operation that busted 9 conmen who scammed victims out of $689 million in cryptocurrency.

The investigative work was performed by French and Belgian authorities, who then joined prosecutors and judges from their home countries, along with Cyprus, Spain, and Germany, for a joint takedown. The arrests were made at various homes in Cyprus, Spain, and Germany.