Interpol Arrests 58 Suspects in Large-Scale Crackdown on Cryptocurrency Investment Scams

INTERPOL has announced that 58 individuals have been arrested, 263 suspects have been identified, and $2.67 million has been seized following a large-scale operation involving 22 countries aimed at tackling crypto investment scams, romance fraud, and money laundering networks.

As stated in an official INTERPOL release dated Aug. 25, Operation Jackal IV was conducted over eight months, focusing on the financial structures utilized by West African organized crime syndicates.

Law enforcement from 22 countries including the United States, United Kingdom, Canada, United Arab Emirates, South Africa, Argentina, Nigeria, Romania, and various European nations participated in the operation.

Investigators concentrated on groups such as Black Axe and similar organizations accused of conducting romance scams, fraudulent cryptocurrency investments, business email scams, and various other financial crimes. They also tracked shell companies, bank accounts, digital wallets, and external service providers that were involved in accepting or concealing illicit funds.

Throughout the operation, INTERPOL facilitated cross-border intelligence sharing among participating agencies, aided in the analysis of financial activities, and coordinated enforcement operations. The organization also provided specialized training for investigators tasked with handling money laundering cases.

“By following illicit financial flows across borders, we are attacking the very lifeblood of organized crime and making it increasingly difficult for criminal networks to profit from their activities,” remarked Tomonobu Kaya, director of the INTERPOL Financial Crime and Anti-Corruption Centre.

Interpol’s crypto scam initiative results in 58 arrests

Operation Jackal IV culminated in 58 arrests and the identification of 263 individuals connected to the targeted criminal networks, as reported by INTERPOL.

In Argentina, federal investigators uncovered a Crime-as-a-Service network believed to provide website domains and money laundering assistance to West African crime groups. A total of 196 individuals were connected to this operation, with 17 suspects arrested.

An INTERPOL Operations Support Team aided Argentine authorities in analyzing the seized information, tracing links among suspects, criminal groups, and foreign partners while assisting local investigators in developing more leads.

South African law enforcement executed the operation’s largest enforcement action, apprehending 39 individuals across seven locations in Johannesburg. Investigators connected these sites to a group alleged to have orchestrated romance and investment scams targeting retirees in English-speaking nations.

According to INTERPOL, this network comprised members who performed various roles in the fraud scheme, including “conversion” agents responsible for turning initial contacts into paying victims and “retention” agents who persuaded existing victims to continue sending funds.

Authorities seized $2.67 million, blocked 257 bank accounts, and collected evidence during the Johannesburg raids. An INTERPOL support team also collaborated with South African investigators to explore the financial and international connections of the network.

While INTERPOL’s release cites 17 arrests in Argentina and 39 in South Africa, totaling 56 of the stated 58 arrests, it also notes 11 arrests in Romania, bringing the cumulative count of reported arrests to 67. INTERPOL did not clarify if the Romanian arrests were accounted for in the main total or if they stemmed from a related investigation.

Romanian investment scam reportedly involved €143 million

In Romania, law enforcement dismantled a call center accused of luring investors with promises of substantial returns from stocks and cryptocurrencies. INTERPOL indicated that the suspects redirected victims’ deposits to electronic wallets they controlled, rather than investing the funds as promised.

Investigators estimated that this group stole and laundered around €143 million globally. Police detained 11 suspects and confiscated approximately €330,000 in cash and cryptocurrency, along with six properties and several luxury watches.

In Italy, authorities identified a suspect linked to a money laundering network operating throughout Europe. According to INTERPOL, the network utilized shell companies, remittance services, and cash withdrawals to obscure the origins of funds.

A single bank account processed €845,000 across 560 transactions involving 20 different financial instruments, as noted by the agency. No arrests were reported in the Italian case, which remains focused on identifying one suspect.

Operation Jackal IV also revealed that certain West African crime groups have been purchasing Crime-as-a-Service tools from external providers, often using dark web markets. INTERPOL stated these arrangements enabled fraud groups to outsource website infrastructure, money laundering, and other technical tasks instead of managing every component of their operations independently.

In July, crypto.news reported on another INTERPOL operation that led to 5,811 arrests and the seizure of $293 million in illicit assets across 97 countries and territories. Operation First Light also identified over 142,000 victims and blocked more than 31,000 bank accounts while targeting romance scams, investment fraud, and related money laundering activities.

During that earlier operation, Thai police uncovered a crypto laundering network, with INTERPOL indicating that one wallet processed more than $122.5 million within a span of 10 months. Investigators alleged that this network funneled proceeds from romance scams through multiple digital assets and utilized cross-chain swaps to complicate tracking the funds.

U.S. authorities pursue overseas proceeds from crypto scams

The United States participated in Operation Jackal IV as one of the 22 involved countries; however, INTERPOL’s report did not detail any specific arrests or asset seizures in the U.S. stemming from this operation.

U.S. authorities have actively pursued overseas networks accused of exploiting U.S. residents with comparable romance and cryptocurrency investment schemes. In July, the Department of Justice sought the forfeiture of $25 million in cryptocurrency recovered through five investigations involving suspected victims located in the United States and Canada.

According to the U.S. Attorney’s Office for the District of Columbia, these five cases involved fraudulent cryptocurrency platforms and laundering networks with connections to China, Malaysia, and Cambodia. Prosecutors noted that the DOJ’s Scam Center Strike Force has seized over $800 million since its establishment in November 2025.

One investigation encompassed over 270 suspected victim transfers amounting to roughly $10.4 million in cryptocurrency, while another involved more than 200 victims of romance scams and $12.1 million in total assets. Eligible victims may seek compensation under the civil forfeiture process if courts validate the government’s claims to the recovered funds.

In a separate enforcement action taken in June, Coinbase froze over $3 million in cryptocurrency linked to suspected scam networks operating in Southeast Asia. The exchange collaborated with the DOJ, Meta, Microsoft, Starlink, and international law enforcement agencies to pinpoint financial transfers and online infrastructures associated with romance and investment fraud.

Meta deactivated more than 1.4 million accounts, pages, and groups connected to alleged scams, while Microsoft suspended approximately 20,000 accounts. Starlink terminated services for thousands of internet kits linked to suspected illicit activities, and the Royal Thai Police made 63 arrests tied to various scam operations.