European law enforcement arrested 17 people linked to a mafia crypto bank accused of laundering more than €21 million ($23.5 million) in cryptocurrencies for criminal groups in China and the Middle East in January.
According to a May 14 Europol statement, these money laundering activities supported other criminal networks involved in migrant smuggling and drug trafficking.
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Spanish authorities revealed that the organization operated an informal clandestine money transfer system known as hawala, often receiving payments in cryptocurrencies.
The arrests included 15 individuals in Spain, one in Austria and one in Belgium. Authorities seized items valued at €4.5 million ($5 million), including cash, cryptocurrencies, 18 vehicles, four shotguns and various electronic devices.