Authorities in Europe have taken down a clandestine banking network suspected of laundering over $23 million using cryptocurrency, according to Foresight News. The operation involved 17 arrests across Spain, Austria, and Belgium, with individuals from China and Arab nations allegedly responsible for the cash collection and international transfers, respectively. In addition to the seized assets, the operation resulted in the seizure of substantial financial holdings including approximately $229,600 in cash, $204,960 in cryptocurrencies, luxury vehicles, real estate, cigars, and handbags with a total estimated value exceeding $3.5 million. This crackdown underscores the ongoing efforts by European law enforcement to combat financial crimes involving digital currencies.