Spanish Police Arrest Five in $540 Million Crypto Fraud Case

Spanish police arrested five individuals linked to a crypto fraud scheme that laundered 460 million euros ($540 million) from over 5,000 victims. Key details include:

Operation led by Guarda Civil on June 25.
Three arrests made in the Canary Islands, two in Madrid.
Investigation supported by Europol and law enforcement from Estonia, France, and the U.S.
Funds raised through cash withdrawals, bank transfers, and crypto payments.
Organization allegedly established a corporate and banking network in Hong Kong for fund management.
Investigation remains ongoing.