On Monday, Spanish authorities announced the arrest of seven people suspected of being members of a criminal network that trafficked cocaine and then used cryptocurrency to launder the proceeds.

More than 20 vehicles, two motorcycles, 200,000 euros (US$228,000) in cash, 20 kilos of cocaine, and links to cryptocurrency accounts were seized as part of Operation Grande-Tragadera. Several companies in Seville and Cadiz were also searched for possible links to the criminal network.

At the start of the year, the National Police were made aware of a sophisticated large-scale drug trafficking network.

The criminal organisation is thought to be linked to a network of businesses in Seville, including a car repair shop, that were used to launder money earned from drug sales and invest some of the profit in cryptocurrency.

Investigators discovered elaborate hidden compartments in vehicles using hydraulic openers to conceal weapons and drugs in a video released by the National Police.

The use of cryptocurrencies in criminal activities has recently grown in popularity.

In a separate incident, Spanish National Police investigators raided what was discovered to be an illegal cryptocurrency mining farm in the province of Seville less than two weeks prior. According to a statement released on January 28, investigators thought the location was a possible marijuana grow-up but instead discovered a series of Bitcoin mining servers.

The National Police Department also released a video depicting the size of the cryptocurrency farm. The discovery is Seville's first known illegal cryptocurrency mining farm. The Bitcoin mined from the illegal farm is worth 31,500 euros ($35,954), while the mining equipment is worth 13,000 euros ($14,838).

National Police investigators have not publicly announced any direct links between the two raids. Both investigations are still going on.

Support us!