Europol (part 2) – seven arrests and 26 searches in cybercrime fraud operation

Background

In previous articles, we explained how the borderless nature of cybercrime and crypto transactions has resulted in jurisdictions requesting that INTERPOL issue notices to try and locate individuals accused of criminality (specifically allegations involving crypto) but who are based in other jurisdictions, with a view to their potential extradition. There have been several examples of subsequent extradition requests.

Indeed, using INTERPOL to pursue individuals accused of allegations involving cryptoassets is becoming more common.

We have additionally explored how two other international law enforcement organisations – specifically Europol and Eurojust – are becoming involved in cases with a crypto element:

Europol and crypto (part 1) – five arrests and three searches in crypto investment fraud ring

Eurojust and crypto (part 1) – coordinated action to halt 100 million cryptocurrency euro fraud

What is Europol?

Europol is the European Union Agency for Law Enforcement Cooperation, tasked with combatting serious international crime and terrorism by facilitating cooperation between law enforcement in EU member states. It acts as a central hub for criminal intelligence and provides support for cross-border operations.

Europol has recently recognised that investing in preventing and combatting the misuse of the crypto ecosystem for the purpose of financial crime is vital to safeguarding both national and international security.

What has Europol been up to?

It has recently been reported that a day of action in Latvia has led to multiple arrests and the seizure of infrastructure used to enable crimes against thousands of victims across Europe.

The action involved investigators across Austria, Estonia and Latvia, who together with assistance from Europol and Eurojust tackled a criminal network involving more than 1,700 cyber fraud cases in Austria and 1,500 in Latvia.

This criminal network has allegedly enabled multiple criminal offences to be committed, including “phishing” and “smishing”, where criminals gain access to victim’s email and bank accounts.

It is reported that during the operation, and thanks to the assistance of Europol and Eurojust, the organised crime network was dismantled. Specifically, Europol provided analytical support to map the criminal services and forensic support to secure digital evidence, take down the infrastructure and provide a file-exchange service for transmitting evidence.

Crypto and extradition

As well as being at risk of measures involving Europol and INTERPOL, such as Red Notices, those who suspect that allegations involving crypto have been made against them could also be at risk of extradition.

As was discussed in our previous blogs entitled “Can I be extradited for allegations involving crypto?” and “Another US crypto extradition”, any allegation of criminality will inevitably involve multiple jurisdictions due to the borderless nature of crypto transactions. As such, there may be numerous jurisdictions claiming authority over any given case and trying to extradite an alleged perpetrator to their jurisdiction to face justice. There have now been two instances of individuals being extradited to the US in relation to allegations involving crypto.

The vast majority of criminal allegations (if not all) that underpin a crypto criminal investigation are of a financial crime nature, e.g. fraud, money laundering or insider dealing. They can also include alleged offences relating to the breach of financial regulations.

These offences, by their very nature, can take place across multiple jurisdictions and are therefore the types of offences over which multiple countries can assert jurisdiction, including situations where the alleged conduct took place outside their own country (hence extradition being an option).

As such, jurisdictions may additionally utilise INTERPOL to locate an individual and seek their arrest prior to issuing any extradition request.

As this technology becomes more prevalent, and due to its inherent nature, there will surely therefore be a large increase in the instances of INTERPOL being used to locate individuals accused of allegations involving crypto.

INTERPOL and cryptoassets

We have previously written about INTERPOL’s specialist team developed to coordinate efforts globally against digital assets crime.

As we have already noted, there have been increased reports of countries using INTERPOL to pursue individuals alleged to have been involved in criminality concerning cryptoassets.

Following earlier reports that South Korea had asked INTERPOL to issue a Red Notice for developer Do Kwon, the team wrote a blog entitled “Can INTERPOL issue a Red Notice in relation to allegations involving crypto?”.

Another recent article reviewed how although Hex Founder Richard Heart found himself subject to an INTERPOL Red Notice, a United States Court dismissed the case against him. We thereafter described how a Red Notice had been requested to locate Hayden Davis, a citizen of the US allegedly behind the launch of several memecoins.

Our next follow-up article explained how the US had secured the extradition of a Russian national from Portugal to face allegations relating to crypto.

In our latest article, we discussed the successful extradition of a Brazilian national from Switzerland to the United States to face an indictment for an alleged cryptocurrency fraud scheme.

It is noticeable that INTERPOL has recently been more active in seizing online digital wallets and exchanges, including seizing the exchange known as Cryptonator for allegedly receiving the proceeds of crime.

Suitability of INTERPOL

There is no doubt that crypto-based crime presents authorities with unique challenges, and that the decentralised nature of crypto – and the distance between it and more conventional financial institutions – creates significant hurdles for international policing.

The UK continues to pass legislation to tackle crypto-based crime, with recently introduced regulations enabling authorities to investigate and seize assets suspected of being used in criminal activities relating to crypto (please see our other blogs on crypto regulation).

Other INTERPOL members, however, may not be as quick in establishing the necessary regulatory frameworks, making international cooperation even more challenging.

However, it remains the case that given the decentralised and borderless nature of some cryptoasset transactions, an organisation with a global reach such as INTERPOL is very well-suited to assisting with the coordination of the steps required to pursue both the individuals alleged to have committed criminal offences involving crypto, and also to trace any associated proceeds of crime.

As always, it is important to ensure that INTERPOL is used in compliance with all its applicable rules and regulations.

International crypto dimension – criminal investigations, litigation and extradition

Those who suspect they may be subject to an extradition request from the UK, or who are just concerned about potential liability across multiple jurisdictions (including the UK) should get in touch.

Gherson’s Criminal Litigation, Regulatory and Investigatory team combine an expert knowledge of criminal and regulatory law underpinned by a firm understanding of digital assets and blockchain technology. As such, the team are able to provide expert strategic advice to anyone facing investigation in relation to any allegation of criminality involving cryptoassets. Working alongside the extradition team, Gherson’s criminal litigation, investigations and regulatory team are able to provide an unparalleled service in any case with an international dimension. The team is also able to call upon lawyers in multiple other jurisdictions and build multi-jurisdictional teams to assist with the preparation of defence strategies.

INTERPOL, Red Notices and crypto

In addition, those who believe that a given jurisdiction may have requested INTERPOL to process data in respect of them relating to alleged offences involving crypto, or anyone just concerned about potential liability, should get in contact.

Gherson Solicitors continue to receive requests for expert advice and assistance from individuals who suspect they may have financial issues – whether now or in the future. That advice can include the following:

1. How best to approach a possible INTERPOL Red Notice;
2. Preparing for potential criminal proceedings or an extradition request;
3. Preparing for a situation where a civil matter or commercial dispute could be used to initiate bogus criminal proceedings; and
4. Exploring the possibility of instigating civil litigation proceedings to recover any misappropriated assets.

Gherson have previously written a series of blogs designed to assist those who suspect they might be subject to INTERPOL measures (including a Red Notice):

INTERPOL and Red Notice Challenges

How to Remove an INTERPOL Red Notice

INTERPOL Red Notices and Extradition

How do I know if I am subject to an INTERPOL Red Notice?

Regulation and compliance

Within the constantly evolving regulatory framework, firms that deal with cryptoassets (and have exposure to firms that do) will need to consider all their systems and controls carefully to ensure that they are able to comply with all relevant AML and sanctions regulations.

How Gherson can assist

Gherson’s White-collar Crime and Regulatory team are able to provide advice and assistance with AML and sanctions compliance, including in situations involving cryptoassets.

For those who would like advice on relevant issues, including those who have had issues with the FCA registration process, our specialist regulatory and compliance team can guide individuals and companies through the process.

Please do not hesitate to contact us for further advice, send us an e-mail, or, alternatively, follow us on X, Facebook, or LinkedIn to stay up-to-date.

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

©Gherson 2025