Online reports, according to Bitcoin.comNews, Europol announced that the Spanish National Guard cooperated with law enforcement agencies in Estonia, France and the United States to successfully destroy a cryptocurrency investment fraud ring that defrauded more than 5,000 victims around the world. A total of five people were arrested during the operation, three of whom were arrested in the Canary Islands and two in Madrid. The criminal network is believed to launder approximately $539 million through fraudulent investment schemes. The investigation found that perpetrators established a global network of associates to facilitate cash withdrawals, bank transfers and cryptocurrency transfers, while establishing corporate and banking infrastructure in Hong Kong to manage criminal funds.