Europol Coordinates Takedown of Crypto Laundering Network Across Six Countries
Law enforcement agencies seized cold wallets containing an estimated €120 million in stablecoins linked to ransomware proceeds.
A coordinated operation led by Europol resulted in the arrest of 17 individuals across the Netherlands, Germany, Spain, Estonia, Lithuania, and Cyprus on Wednesday, dismantling what investigators described as one of Europe's largest crypto laundering networks.\n\nAccording to a Europol statement, the network specialized in converting ransomware payments and proceeds of investment fraud into cashable stablecoins via a layered structure of shell companies, over-the-counter desks, and non-compliant exchanges. Investigators recovered hardware wallets, business records, and approximately €120 million in USDT and USDC.\n\nThe operation, codenamed Endgame Ledger, drew on tracing work conducted over an 18-month period using on-chain analytics shared between national financial intelligence units.
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