INTERPOL has revealed a significant operation aimed at crypto criminals, resulting in the freezing of 400 wallets and 68,000 bank accounts, and the recovery of $439 million in assets.
Moreover, Eurojust has reported a similar achievement, apprehending the leaders of a substantial crime syndicate that embezzled $116 million over multiple years before being dismantled by international law enforcement.
INTERPOL’s Crypto Operations
Despite the ongoing wave of crypto-related crime, law enforcement officials worldwide are achieving significant milestones in freezing assets and capturing criminals.
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Today, INTERPOL announced a remarkable recovery of substantial crypto assets through several operations.
INTERPOL’s press release detailed Operation HAECHI VI, an extensive crypto crime investigation involving 40 countries and spanning most of this year. The operation focused on seven different types of scams and involved freezing over 400 token wallets and 68,000 bank accounts.
“While many believe that funds lost to fraud and scams are often unrecoverable, the results of HAECHI operations show that recovery is indeed achievable. As one of INTERPOL’s main financial crime operations, HAECHI exemplifies how international collaboration can protect communities and strengthen financial systems,” stated Theos Badege, Director pro tempore of INTERPOL’s Financial Crime and Anti-Corruption Centre.
However, INTERPOL has been somewhat vague regarding the specifics of these significant crypto busts. Law enforcement seized $342 million in fiat currency, along with recovering $97 million in both physical and digital assets.
The exact amount of this total that relates to cryptocurrency remains unclear, though INTERPOL also reported seizing $16 million from illicit wallets.
International Crimefighting Successes
Much of this collaboration focused on mapping out transnational organizations, with INTERPOL only reporting direct arrests and asset seizures in three countries.
The criminals involved spanned operations across 40 nations, but law enforcement provided no further details about these illicit groups.
INTERPOL isn’t the sole agency engaged in combating international crypto crime lately; Eurojust has also announced a major operation. Specifically, this organization executed a series of arrests pertaining to a $116 million fraud scheme that targeted EU citizens across five countries.
This syndicate operated for several years before officials intervened. This indicates that INTERPOL, Eurojust, and other global law enforcement agencies are diligently working to combat crypto crime.
Despite the increasing dangers of scams today, the battle is far from over. High-profile operations like these can hopefully mitigate the threat posed by the most dangerous and organized crypto scammers.
