Authorities in Europe have arrested 17 people involved in an illegal money-moving network that helped other criminal groups transfer over €21 million (about $23.5 million) using cryptocurrency.
The group operated mainly in Spain, with links to Austria and Belgium, and supported clients involved in drug smuggling and human trafficking, according to a May 14 report from Europol.
Instead of going through traditional banks, the network used a system similar to hawala—an informal way to send money that relies on personal trust rather than official records. In this case, crypto was used to carry out the transfers.
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Investigators said the group also advertised these services on social media, which presented them as normal remittance options.
The arrests, carried out in January 2025, followed a joint operation led by Spanish authorities with help from Belgium and Austria. Europol supported the investigation, and over 250 officers were involved in the raids. Most of the suspects were from China or Syria and targeted clients from similar backgrounds.
Fifteen people were arrested in Spain, one in Austria, and one in Belgium. So far, 15 of them have been placed in custody while the investigation continues.
Police seized €4.5 million (around $5 million) worth of items during the operation. This included 18 cars, four shotguns, and various electronics.
About €183,000 (roughly $205,000) in cryptocurrency was taken, along with €421,000 (around $471,000) in cash from 77 linked bank accounts. Officers also collected high-value goods such as designer bags, watches, and cigars worth €876,000 (close to $980,000).
Meanwhile, on May 8, the US Department of Justice sentenced Mohammed Azharuddin Chhipa of Virginia to over 30 years in prison. What led to the sentencing? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
