European authorities have arrested nine people in connection with a cryptocurrency money laundering network that defrauded victims of more than €600m
The investigation was led by Eurojust, the EU's judicial cooperation agency, with the help of prosecutors from France, Belgium, Spain, Germany and Cyprus.
According to Eurojust, the suspects are accused of creating fake crypto investment websites as well as fake ads, news stories and celebrity endorsements to scam victims out of millions.
It is estimated that around €600m was laundered.
The arrests were conducted between October 27 and 29. In addition to the nine arrests, authorities also seized €800,000 in bank accounts, €415,000 in crypto and €300,000 in cash.
The arrests come just days after the US government seized about $15 billion worth of Bitcoin connected to what was described by prosecutors as one of the largest cryptocurrency fraud and human trafficking operations ever uncovered.