Summary
- Europol said it had seized a virtual asset fraud and money-laundering network.
- The operation revealed that 700 million euros (about 815.7 million dollars) had been moved illegally.
- The case began as an investigation into a single virtual asset investment platform and expanded into a large-scale online investment fraud, it said.
Europol carried out a joint operation to crack down on a major virtual asset (cryptocurrency) fraud case.
On the 5th (Korea time), crypto-focused outlet The Block reported that Europol said it had dismantled a virtual asset fraud and money-laundering network that illegally moved 700 million euros (about 815.7 million dollars).
The crackdown was carried out through two simultaneous police operations in October and November, during which key criminal infrastructure was shut down and numerous suspects were arrested. They were found to have laundered funds stolen from thousands of victims through multiple blockchains and exchanges.
The operation began with an investigation into a single virtual asset investment platform and gradually expanded into a large-scale joint crackdown targeting online investment fraud.
Uk Jin
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