Europol Dismantles Mafia Crypto Bank
Spanish law enforcement has dismantled a vast underground financial network suspected of laundering over €20 million through cryptocurrency transactions for organized crime groups in China and the Arab world, as reported on May 14.
Described by police as one of Europe’s largest clandestine crypto-banking operations, this network operated a shadow financial system designed to bypass regulatory oversight, facilitating activities such as drug trafficking, human smuggling, and financial fraud.
In collaboration with Europol and Eurojust, the National Police conducted simultaneous raids in January across 13 properties in six Spanish provinces and one location in Antwerp, Belgium.
Authorities arrested 17 individuals believed to be the network’s core members, with 15 currently in pretrial detention. They all face charges of money laundering and participation in a criminal organization.
Details of the operation were released only after months of forensic analysis and cross-border coordination.
