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Authorities in Europe arrested 17 people involved in an illegal networking network This helped other criminal groups to transfer more than 21 million euros (about $ 23.5 million) using a crypto currency.
The group operated mainly in Spain, with connections to Austria and Belgium, and Supported clients involved in drugmonds and trafficking tradeaccording to a May 14 Report from Europol.
Instead of passing through traditional banks, the net used to use a Hawali -like system – an informal way to send money that relies on personal trust, not official records. In this case, Crypto was used to carry out transfers.
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Investigators said that a group Advertised these services on social networkswhich presented them as usual remittance options.
The arrests, performed in January 2025, followed after a common surgery led by Spanish authorities with the help of Belgium and Austria. Europol supported the investigation, and over 250 officials were involved in the attacks. Most suspects were from China or Syria and targeted clients of similar origin.
Fifteen people were arrested in Spain, one in Austria and one in Belgium. So far, 15 of them have been in custody while the investigation continues.
Police Seized 4.5 million euros (about $ 5 million) During surgery. This included 18 cars, four shotguns and various electronics.
About 183,000 euros (approximately $ 205,000) were taken in the CRIPTO currency, together with 421,000 euros (about $ 471,000) in cash with 77 related bank accounts. Officers also raised high values goods such as designer bags, watches and cigars worth 876,000 euros (close to $ 980,000).
Meanwhile, May 8, the US Ministry of Justice condemned Mohammed Azharuuddin Chhipa from Virginia for more than 30 years in prison. What led to the verdict? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
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