The Spanish police and EUROPOL dismantled a network of internationally operating drug traffickers, confiscating a total of BRL 15.5 million, equivalent to 3 million euros, of which BRL 7.7 million in cryptocurrencies. The information is from Livecrypto.
The criminal group was active in 17 countries around the world, in Europe and Asia, as well as Spain, Italy, Sweden, the United Kingdom, China and others. They were also active in 4 Latin American countries, including Brazil and Colombia.
According to information, about 1,000 kilograms of narcotics, 575 kilograms of hashish and 276 kilograms of marijuana were seized during the police operation. In addition, 11 luxury cars, weapons and luxury watches were seized.
Police said they dismantled an entire marijuana plantation and arrested 32 people during the operation. According to the authorities, the criminal organization is considered the largest financial entity for drug trafficking in Europe.
In the seizure, the police blocked a total of 19 cryptocurrency accounts with an estimated value of 1.5 million euros, about 7.7 million reais.
The criminal organization worked with cash and for the transport and sale of drugs they used a restaurant in Madrid to transport the money on site.
“32 people were arrested and nearly 3,000,000 euros were seized, 575 kilograms of hashish, 276 kilograms of marijuana, 11 luxury vehicles, seven luxury watches, a semi-automatic pistol in addition to dismantling a 995-plant marijuana plantation.said the police.
Use of cryptocurrencies
The investigation estimates that the criminal organization moved more than 32 million euros a year through its systems of money transfers that took place at the restaurant, as well as transfers in cryptocurrencies as an alternative way.
To avoid possible surprises, the restaurant was monitored 24 hours a day and did not collect large amounts of cash. In addition, cash deliveries and withdrawals were made to the homes of the most prominent members of the criminal group.
A total of 32 people were arrested and the police were able to determine that the organization obtained benefits from the sale of drugs introduced into Europe, by receiving the sales values in cryptocurrencies.
Criminal group that worked indirectly with cryptocurrencies
The Spanish police were also able to determine that the Spanish-based group of criminals had no structure to receive payments in cryptocurrencies. However, they sought third parties as payment intermediaries.
The criminal organization was active for 2 years and authorities estimate that it moved more than 300 million euros, much of it in cryptocurrencies.
“Since 2020, the organization has carried out deliveries and collections of money to finance the drug trade, with the profits obtained, worth more than 32 million euros per year, being returned through clearing systems, money transport and cryptocurrency transactions between Spain and twenty countries. ”
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
