Authorities arrested seven people allegedly involved in an investment fraud scheme that claimed potential victims in more than 50 countries, Europol said Tuesday. Officials said the operation caused estimated losses of at least $4.5 million. The takedown effort involved searches across 17 countries Tuesday and netted the seizure of more than 100 servers, according to Europol.Officials targeted the scheme run by a company that allegedly provided cybercrime groups a series of trading websites and an assortment of call centers tasked with tricking victims into transferring their savings. The company, operated from Cyprus and Israel, was linked to call centers in Albania, Kosovo and North Macedonia, officials said. “The scheme promised substantial, quick returns from trading in cryptocurrencies, foreign currencies or stocks,” Europol wrote in a news release. “Behind seemingly legitimate platforms, supposed brokers used fictitious profits and sustained psychological pressure to persuade victims to invest more.”The investment scam’s operators used affiliate marketing to target potential victims with advertisements that led them to fraudulent investment platforms. Cybercrime groups running the call centers purchased data collected through those ads to contact potential victims, officials said.Operators duped victims by displaying fictitious profits and pressured victims to transfer large sums of money. “When victims asked to withdraw their money, the operators used delaying tactics to block payments. Eventually, contact ceased, leaving victims unable to recover their funds,” Europol wrote. Authorities were tipped off to the investment scam in 2022 when a German couple reported they couldn’t withdraw funds invested in an online trading platform. Authorities arrested two people allegedly involved in the scheme that year and seized evidence that eventually led to further arrests and seizures in 2025.The joint investigation and takedown effort was supported by officials in Albania, Cyprus, Finland, Germany, Israel, Kosovo, North Macedonia and Poland. The seven people arrested Tuesday, who were not identified, are facing extradition to Germany to face charges, Europol said.The post Europol dismantles investment scheme that impacted potential victims in 50 countries appeared first on CyberScoop.