Europol Helps Take Down a $23M ‘Mafia Crypto Bank’ – You Won’t Believe What Was Found!

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So, here’s the thing. Europol, Europe’s answer to the Avengers but for crime-fighting, totally crushed a “mafia crypto bank” in January, arresting 17 people for laundering over 21 million euros (that’s $23.5 million, FYI) in crypto for shady characters from China and the Middle East. Yes, you read that right. Crypto. In a bank. A mafia one. 🙄

These “bankers” were allegedly helping other criminal networks with their little side hustles in migrant smuggling and drug trafficking. Because, why not? According to Europol’s May 14 statement, they were so dedicated to their illegal work that they even ran their own underground money transfer system called hawala. Guess what? They got paid in crypto. Big surprise! 💰

And here’s where it gets even juicier. Authorities swooped in and arrested 17 people—15 of them in Spain, one in Austria, and one in Belgium. They also found some seriously expensive stuff: 4.5 million euros (around $5 million) worth of assets, including cash, crypto, 18 cars, four shotguns (just in case), and a bunch of electronic devices. What? No gold bars? 😏

Of that 4.5 million euros, 183,000 euros ($205,000) came in crypto. And they didn’t stop there—another 421,000 euros ($471,000) was seized from 77 bank accounts linked to the gang. Spanish media called it a “mafia crypto bank” and, well, it does have a certain ring to it, doesn’t it? 🎩

Oh, and get this—luxury bags, watches, and even cigars worth a whopping 876,000 euros ($980,000) were also seized. Because when you’re laundering millions, you need to look good while doing it, right? 💼

So, in January 2025, across Spain, Austria, and Belgium, over 250 officers were involved in this huge bust. Sounds like an action movie, right? Well, in this case, the bad guys lost, and the law came out on top. Go Europol! 👮‍♂️

Most of Those Arrested Are Already Behind Bars 🏙️

Out of the 17 arrested, 15 have already been locked up as they’re allegedly the masterminds behind this whole operation. The rest? Not looking too good. Most of them came from China and Syria, with the whole operation targeting clients in China and the Arabic-speaking criminal underworld. Because, of course. 🤦‍♀️

The gang tried to cover up their money laundering activities by pretending they were just running a “legitimate” remittance business. They even advertised on social media. Because what better way to make yourself look trustworthy than a couple of Instagram posts, right? 🧐

The whole thing was spearheaded by a court in Almería, Spain, and Europol teamed up with Belgian and Spanish officials to shut it all down. Talk about teamwork! 🙌

And as a fun fact, blockchain forensics firm Chainalysis estimates that in 2024, illicit crypto transactions hit $51.3 billion. That’s an 11.3% increase from the year before. I mean, who knew crypto could be such a popular tool for crime? 🚨

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2025-05-15 05:58