Belgian Man Arrested at Athens Airport for Crypto Fraud
A 45-year-old Belgian man wanted on suspicion of cryptocurrency fraud was arrested on July 10 at Athens International Airport “Eleftherios Venizelos” just moments before he was due to board a flight to Cyprus. Greek police detained the suspect at the departure hall under a European Arrest Warrant issued by Belgian authorities, who accuse him of participation in a criminal organization, fraud, and money laundering.
Arrest at the Departure Gate
Officers from the Athens Airport Police Directorate’s Security Department apprehended the foreign national on the morning of July 10 at the departures level of the airport, according to Greek City Times. The suspect was preparing to board a flight to Cyprus when authorities moved in. He was subsequently brought before the competent prosecutorial authority in Greece, where extradition proceedings are expected to follow.
The Alleged Fraud Scheme
According to investigators, the suspect joined an internationally active criminal organization in 2023 that specialized in cryptocurrency investment scams. Within the network, he allegedly worked as an “account manager” — directly contacting prospective victims and guiding them through fictitious cryptocurrency investments, as reported by Het Laatste Nieuws.
The criminal operation is estimated to have generated more than €160,000 through its fraudulent practices. Authorities allege the suspect personally profited from the scheme, which targeted victims with fake investment opportunities promising returns in cryptocurrency.
The Athens Times reported that the suspect acted as an account manager within the organization, contacting potential victims and guiding them through the fraudulent investment process before the funds were funneled through the network.
European Arrest Warrant System
The arrest was made possible through the European Arrest Warrant (EAW), a simplified cross-border judicial surrender procedure that operates among European Union member states. Belgium issued the EAW for the suspect, enabling Greek authorities to detain him pending extradition proceedings. This streamlined mechanism replaces the lengthy traditional extradition processes and allows for rapid cooperation between EU law enforcement agencies.
Broader Crackdown on Crypto Fraud
The arrest comes amid an intensifying Belgian crackdown on cyber-enabled financial crime. In recent weeks, Belgian authorities have made several high-profile arrests:
- On June 25, the Federal Judicial Police of East Flanders dismantled an international phishing gang that defrauded victims of more than €100,000, arresting three suspects.
- On June 29, a 19-year-old alleged ringleader of a phishing network was arrested at an Airbnb in Antwerp, linked to over €500,000 in stolen funds.
- On July 3, Belgian authorities arrested the suspected leader of a European phishing gang accused of stealing over $572,000 and laundering the proceeds through cryptocurrency.
Belgian Federal Police Commissioner-General Eric Snoeck has announced plans to establish a dedicated national anti-phishing unit, signaling a significant step up in how the country treats these crimes, as reported by VRT NWS.
Growing Threat of Crypto Fraud Across Europe
Cryptocurrency fraud has become a significant concern across Europe and beyond. According to the Chainalysis 2026 Crypto Crime Report, an estimated $17 billion in cryptocurrency was lost to scams and frauds globally in 2025. Impersonation scams rose more than 1,400% during that year, driven by criminal groups using artificial intelligence, ready-made phishing kits, and professional laundering networks. The average individual scam payment climbed from $782 in 2024 to $2,764 in 2025 — a near-fourfold increase.
In November 2025, Eurojust coordinated a major operation across Cyprus, Spain, and Germany that arrested nine individuals linked to a €600 million crypto money laundering network, with Belgian and French authorities also participating.
What’s Next
The suspect remains in custody in Greece pending extradition proceedings. Belgian authorities are expected to continue their investigation into the broader criminal network, which may involve additional suspects across multiple countries. The case highlights the growing effectiveness of international police cooperation through the European Arrest Warrant system in combating cross-border financial crime.
As Belgian authorities ramp up their enforcement efforts, including the planned establishment of a dedicated anti-phishing unit, this arrest serves as a reminder of the sophisticated nature of modern cryptocurrency fraud networks operating across European borders.