Europol dismantles a cryptocurrency fraud ring in Latvia, seizing millions of dollars.

Europol has just dismantled a large cryptocurrency phishing ring based in Latvia, causing at least 5.7 million USD in damages. This criminal group operated 49 million fake accounts, carrying out thousands of scams across Europe, mainly targeting Russian speakers. The police seized around 330,000 USD in cryptocurrency, along with several luxury cars and tech equipment, but many assets remain untraceable.

Hackers use various tactics such as impersonating relatives, police, or investment scams, even extorting through sensitive content. Europol states that this is part of an effort to enhance the crackdown on cybercrime related to cryptocurrencies. Although this campaign is considered a significant step forward, experts warn that the fight against cryptocurrency fraud will be prolonged and complicated.

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