Europol helps dismantle $23M ‘mafia crypto bank’ - adtechsolutions

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Europol helps dismantle $23M ‘mafia crypto bank’


In January, the European coercive bodies arrested 17 suspected of the “Mafia of the Bank” Mafia, which are said to have been washing over EUR 21 million ($ 23.5 million) in the crypt in China and the Middle East.

Money laundering services were reportedly carried out on behalf of other criminal networks dealing with migrants and drug trafficking, Europol said In a statement on May 14.

Spanish authorities said The criminal organization operated a secret informal system of money called Hawala and was often compensated in crypto.

A total of 17 individuals were arrested – 15 in Spain, one in Austria and one in Belgium – while seized items worth EUR 4.5 million ($ 5 million), including cash, crypto, 18 vehicles, four shotguns and several electronic devices.

Of EUR 4.5 million, EUR 183,000 ($ 205,000) came as a crypto. Another 421,000 euros ($ 471,000) in cash was confiscated from 77 bank accounts tied to criminal organizationwhich one Spanish news insertion described As a “mafial crypto bank”.

Luxury bags, watches and even 876,000 euros ($ 980,000) were also confiscated, Spanish officials said.

Scenes of European efforts to enforce law and assets confiscated from a criminal organization. Source: Europol

The arrests and seizures of assets took place in January 2025 across Spain, Austria and Belgium, Europol said. More than 250 officers were involved, Spanish authorities added.

Most of those arrested have already been detained

Of the 17 arrested, 15 have already been imprisoned as allegedly perpetrators of crimes associated with the organization.

Most of them were arrested from Chinese and Syrian nationality, focused on clients in China and an Arab -speaking criminal world.

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The criminal organization tried to cover up money washing activities by running and Remitency BusinessAnd he even advertised these services on social media.

The investigation was conducted by the court in Spain Almería, which supported the efforts of Europol to coordinate Spanish and Belgian officials to dismantle the criminal organization.

Blockchain Forensics Company Chainlysis estimates it illegal crypto transaction In 2024 it was $ 51.3 billion, which meant an increase of 11.3%.

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