Spain Busts $540M Crypto Scam Organization in Global Sting Operation

The Spanish Civil Guard has dismantled an international criminal network, arresting five individuals accused of orchestrating a large-scale crypto fraud and laundering illicit proceeds. Authorities say the crypto scam organization defrauded more than 5,000 victims across the globe, with estimated losses totaling nearly $540 million.   According to local reports, authorities dismantled the international criminal organization as part of Operation BOREELLI, targeting a Hong Kong-based company allegedly involved in fraudulent FOREX market investments.   In addition to five arrests, law enforcement conducted searches in Madrid and the Canary Islands source: https://news.shib.io/2025/07/02/spain-busts-540m-crypto-scam-organization-in-global-sting-operation/