Europol Busts $540 Million Crypto Laundering Network

Spanish authorities, supported by Europol and enforcement teams from France, Estonia, and the United States, have taken down a sprawling crypto money laundering operation that moved over $540 million in criminal proceeds. Five people have been arrested in connection with the scheme. Three of them were found in the Canary Islands, and the other two.. The post Europol Busts $540 Million Crypto Laundering Network appeared first on 99Bitcoins.

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Jul 1, 2025 - 22:00

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Europol Busts $540 Million Crypto Laundering Network

Spanish authorities, supported by Europol and enforcement teams from France, Estonia, and the United States, have taken down a sprawling crypto money laundering operation that moved over $540 million in criminal proceeds. Five people have been arrested in connection with the scheme. Three of them were found in the Canary Islands, and the other two were apprehended in Madrid. The coordinated action marks one of the most significant crypto-related crackdowns in the region to date. Following the Europol crypto bust, regulators are expected to tighten oversight on exchanges and enforce stricter KYC policies.

A Blended Network of Cash and Crypto

The criminal group is accused of creating a sophisticated network of shell companies in Hong Kong that operated as fake payment processors. These firms opened bank accounts using false documents and used them to route funds between Europe and Asia. Once the money was inside the system, it was transferred across several accounts, mixed with cryptocurrency transactions, and reintroduced into the traditional banking sector as if it had clean origins.