Europol announced the dismantling of a major cryptocurrency investment fraud ring in Spain, which allegedly laundered €460 million ($540 million) through a global network of accomplices. Spanish police led the mission with support from law enforcement in France, Estonia and U.S. Five individuals were arrested-three in the Canary Islands and two in Madrid. The criminal network used a complex system of cash withdrawals, bank and crypto transfers, and a corporate structure based in Hong Kong to move illicIt funds. The investigation remains ongoing.
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