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Europol Dismantles ‘Mafia Crypto Bank’ in $23M Laundering Scheme
Europol Dismantles ‘Mafia Crypto Bank’ in $23M Laundering Scheme
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European authorities have cracked down on a sophisticated money laundering network, arresting 17 individuals tied to a shadow banking system that processed over €21 million ($23.5 million) in cryptocurrency. The group, operating across Spain, Austria, and Belgium, allegedly facilitated illicit funds for criminal organizations involved in drug trafficking and migrant smuggling.
Spanish law enforcement led the January 2025 cross-border operation, revealing the network’s reliance on the informal hawala system and cryptocurrency settlements to obscure transaction trails. Europol’s May 14 statement highlights the growing intersection of traditional financial crime and digital assets.
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