International Coalition Takes Down 9 Cryptocurrency Fraud Operations
Coordinated law enforcement action involving American, Emirati and Chinese officials leads to 276 detentions and dismantling of nine cryptocurrency fraud operations that victimized US citizens.
An internationally coordinated operation spearheaded by Dubai law enforcement targeting fraudulent schemes concluded last week with 276 people taken into custody and no fewer than nine cryptocurrency fraud operations dismantled, according to an announcement made Wednesday by the United States Department of Justice.
Working collaboratively with the Federal Bureau of Investigation and the Ministry of Public Security from China, authorities in Dubai apprehended 275 individuals, while the Royal Thai Police contributed an additional arrest to the operation.
Federal charges have been filed against six individuals in relation to these fraudulent operations. A federal court in San Diego has charged four defendants along with two co-conspirators currently at large with federal fraud offenses and money laundering, the DOJ confirmed. Should they be found guilty, every charge could result in prison time of up to 20 years along with substantial monetary penalties.
"The charges and arrests announced today reflect an international consensus that scam centers are unwelcome everywhere and must be rooted out…. In contemporary society, fraud is borderless, and law enforcement activity to combat it and eliminate it is as well," said US Assistant Attorney General Andrew Tysen Duva.
Data released by the FBI at the beginning of this month showed that financial losses sustained by Americans due to cryptocurrency and artificial intelligence-based fraudulent schemes throughout 2025 surpassed $11 billion, with investment-related scams identified as causing the greatest financial harm.
Scammers used fake crypto investment platforms to deceive victims
The six individuals facing charges are alleged to have been employed by three separate organizations running the fraudulent operations, marketing counterfeit cryptocurrency investment platforms and manipulating victims into depositing funds.
Federal investigators with the FBI have traced millions of dollars in financial damages attributable to this criminal enterprise.
"Today's indictment demonstrates the FBI's determination to identify, disrupt, and dismantle these global scam centers defrauding Americans no matter where they set up shop," said Special Agent in Charge Mark Remily of the FBI San Diego Field Office.
European police shut down scam network with 450 employees
In a concurrent but independent law enforcement operation conducted by Austrian and Albanian police forces, with assistance provided by Europol and Eurojust, authorities detained ten individuals connected to three fraudulent call centers located in Tirana and Albania, Europol announced on Wednesday.
Targets of the scam were lured through "seemingly legitimate online investment platforms," promoted via social media channels with promises of lucrative investment returns, Europol reported.
After completing registration, victims were paired with fraudulent brokers who applied pressure tactics to coerce them into depositing money for investments. Financial damages resulting from this criminal operation are calculated at over 50 million euros ($58 million) and impacted individuals across the globe.
"The scale and professionalism of the criminal network were evident in its structure, which involved up to 450 employees across various departments, including customer acquisition, handled by conversion agents, and customer service, managed by retention agents," Europol said.
"Additionally, the network had dedicated teams for management, finance, IT, human resources and various back-office activities."