German authorities have dismantled over 1,400 illicit domains in Eastern Europe connected to cybertrading fraud, signaling a significant blow to this expanding international issue.

Referred to as Operation Heracles, the operation was initiated by Germany’s financial oversight body, BaFin, collaborating with law enforcement from Germany and Bulgaria. Individuals accessing these fraudulent websites were directed towards overseas call centers operated by brokers using high-pressure sales tactics to convince them to make significant investments. Authorities reported that many victims only realized after months that their funds had not been deposited into genuine accounts.

The criminal entities behind the fraudulent domains remain unidentified, though all related sites now redirect visitors to a page detailing the seizures. A comparable operation last year eliminated approximately 800 illegal domains but documented over 20 million subsequent attempts at accessing these addresses, highlighting the vast scale and resilience of such scams.

Perilous Online Presence

Fraud has become pervasive on a global scale. In the United States, social media serves as the principal platform for investment fraud, followed by fake websites, which accounted for 6,007 complaints resulting in losses of $266 million, according to a report from BrokerChooser. Investment scams ranked fifth among common types of fraud in the U.S., with 66,703 incidents documented during the first half of 2025. Overall, Americans suffered financial losses totaling $3.5 billion due to investment scams over this period.

Artificial intelligence has empowered criminals to develop convincing and intricate platforms swiftly, luring victims into depositing funds that are subsequently stolen. According to Authority Hacker, scams utilizing AI have cost American consumers more than $108 million, with an average loss per victim amounting to $14,600.

The Invesco Deception

A comparable fraudulent scheme was discovered in Europe. BaFin recently disclosed that imposters claiming affiliation with Invesco were contacting individuals via phone and email, offering the opportunity to establish trading accounts associated with Invesco’s German division. It remains uncertain whether these deceivers are related to the shuttered domains from this week.

According to a regulator quoted in Finance Magnates, “The impression is created that the trading accounts proposed are linked to the Invesco branch in Germany, which is regulated by BaFin. This is inaccurate; this constitutes identity theft. No Invesco employee would contact consumers unsolicited or attempt to persuade them to invest through email or WhatsApp.”