European Authorities Dismantle Secret Banking Network Involved in Cryptocurrency Money Laundering

According to Foresight News, European law enforcement agencies have dismantled a clandestine banking network that laundered over $23 million (approximately 21 million euros) using cryptocurrencies. The operation led to the arrest of 17 individuals in Spain, Austria, and Belgium. Among those arrested, individuals of Chinese nationality were responsible for cash collection in Spain, while those of Arab nationality managed international transfers. Authorities seized approximately $229,600 in cash, $204,960 in cryptocurrencies, luxury vehicles, real estate, cigars, and handbags, with a total value exceeding $3.5 million. This operation highlights the ongoing efforts by European law enforcement to combat financial crimes involving digital currencies.