Europol destroys Latvian cybercrime network and seizes $330,000 in cryptocurrencies

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Europol has seized $330,000 in virtual currency and arrested seven people as part of the destruction of a cybercrime-as-a-service network operating out of Latvia.

The operation, codenamed “SIMCARTEL” and led by Europol and Eurojust, seized 1,200 SIM box devices and 40,000 SIM cards, which the network provided to fraudsters in various countries.

The operation was assisted by law enforcement authorities in Austria, where related fraud losses amounted to a total of $5.2 million, and Latvia, where losses amounted to $487,663.

Europol described the cybercrime network and its infrastructure as “technically highly sophisticated” and the network provides phone numbers to individuals and entities in more than 80 countries.

⚠️ An international law enforcement operation disrupts a sophisticated criminal network that has enabled criminals to commit serious crimes across Europe.
See press release for details: https://t.co/I8ur8sOfVq pic.twitter.com/SOsHzp4egp
— Europol (@Europol) October 17, 2025

This number was used to set up fake internet and social media accounts to commit fraud while concealing the perpetrator’s true identity and location.

Crimes committed using the network’s infrastructure include phishing and smishing, fraud, extortion, migrant smuggling, and distribution of child abuse material.

More specific examples include online marketplace scams, “new number” WhatsApp scams, investment scams, and even fake shopping and banking websites.

In addition to the seven arrests and the seizure of SIM cards and SIM boxes, authorities also seized five servers hosting online infrastructure, two websites advertising network services, four luxury cars, and “hundreds of thousands” of additional SIM cards.

The $330,000 in virtual currency seized was not broken down by specific tokens, and Europol also froze $500,000 in the suspect’s bank account.

Investigators attributed the network to over 1,700 cyber fraud cases in Austria and approximately 1,500 cyber fraud cases in Latvia, demonstrating the network’s reach and the activities it facilitated.

Targeting cybercrime

Europol’s action comes amid a growing number of internationally coordinated efforts to combat cybercrime networks, many of which tend to use cryptocurrencies to operate or store their profits.

In September, Interpol seized $97 million in cryptocurrencies, totaling $439 million, as part of an investigation spanning 40 countries.

August saw another Interpol action, this time focused on Africa, resulting in 1,200 arrests, the dismantling of 25 cryptocurrency mining facilities, and the seizure of $97.4 million.

These law enforcement actions come as NGOs report that cryptocurrencies are playing an “increasing role” in crime in the Western Balkans, with drug lords using them to hide and move profits, for example.