Europol Dismantles $23 Million Crypto Banking Network Linked to Organized Crime

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-15 17:19:01

Europol has shut down a clandestine banking operation that processed at least €21 million ($23 million) in illicit funds, marking a significant blow to organized crime networks across Europe. Seventeen individuals were arrested in coordinated raids across Austria, Belgium, and Spain on January 14, 2025. The suspects, primarily of Chinese and Syrian origin, allegedly facilitated money movement for drug traffickers and migrant smugglers.

The investigation traces back to earlier operations targeting human smuggling rings in July and August 2023. Forensic analysis of seized phone data revealed the parallel crypto banking infrastructure. Authorities executed simultaneous cross-border takedowns to sever a critical financial pipeline for criminal enterprises.

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