Shocking! European Police Uncover $23 Million 'Mafia Crypto Bank' Money Laundering Case

European law enforcement successfully dismantled a massive cryptocurrency money laundering chain, arresting 17 suspects involved with funds exceeding 21 million euros (approximately $23.5 million). This network specifically served Chinese and Middle Eastern criminal groups, engaging in illegal activities such as drug trafficking and human smuggling.

This criminal group utilized a traditional Hawala system combined with cryptocurrency transfers to cleverly obscure the flow of funds. In January 2025, Spain led a multinational operation, arresting most of the suspects across multiple European countries. The operation seized cryptocurrency assets, cash, luxury items, and several luxury cars, with many of the core members being of Chinese and Syrian descent.

Over 250 police officers participated in the operation, highlighting Europe's serious vigilance towards the use of cryptocurrencies in cross-border crime. Blockchain analysis data shows that the global amount of illegal cryptocurrency transactions surged to $51.3 billion in 2024, a year-on-year increase of 11%.

Meanwhile, in the first four months of 2025, cryptocurrency hacking attacks surged, with losses reaching $1.74 billion, setting a new historical record. In April alone, hackers stole over $92 million, with affected projects including several decentralized exchanges and blockchain platforms. Both the frequency of attacks and the amount of losses have exploded, raising ongoing concerns about the security risks associated with crypto assets.