Law enforcement authorities in Europe have arrested five suspects linked to a cryptocurrency investment fraud ring that stole over €100 million ($118 million) from more than 100 victims. The main suspect was promising potential victims high returns on investments in various cryptocurrencies through professionally designed online platforms. This extensive investment fraud operation has been operational since at least 2018, targeting investors across 23 countries, serving either as the residence of victims or as regions for funneling the scam's profits. In June, Spanish police arrested five more suspects believed to have defrauded more than 5,000 victims and linked to the laundering $540 million (€460 million) from illegal cryptocurrency investment schemes. One month later, the Spanish police dismantled another large-scale investment fraud operation that had caused damages exceeding $11.8 million (€10 million).