Bangladesh, Sept. 25 -- A coordinated police operation across Europe has led to the arrest of five individuals accused of running a sprawling cryptocurrency investment scam that defrauded unsuspecting victims of at least €100 million. The joint action, carried out in Spain, Portugal, Italy, Romania, and Bulgaria, targeted an elaborate scheme that operated across 23 countries since at least 2018, drawing attention once again to the growing threat of digital financial fraud.

According to Eurojust, the European Union Agency for Criminal Justice Cooperation, the arrests included the suspected mastermind of the fraud, who is now under investigation for large-scale fraud and money laundering. During the operation, police conducted simult...