Europol raids $24 million 'mafia crypto bank'
European authorities dismantled a so-called “mafia crypto bank” earlier this year in a series of raids that seized weapons and over €2.5 million ($2.7 million) in real estate. As disclosed by Europol and Spain’s national police today, the raids took place in January and resulted in the arrests of 17 individuals. The criminal network, which allegedly handled more than €21 million ($23.5 million) , offered crypto services to human traffickers and the drug trade. The operation, which was made up of Chinese and Syrian individuals, was split into two branches that catered to either criminal networks in China or Arabic-speaking criminals. Footage of the raid showed police uncovering an armoury of weapons. Read more: China busts $2 billion USDT money laundering operation It facilitated money laundering, hawala banking, and often moved cash for traffickers in exchange for cryptocurrency. Spanish media described it as a “mafia crypto bank,” while Spain’...