International investigators have dismantled one of the most widely used services for laundering cryptocurrency, Europol in The Hague said on Thursday.
The service known as AudiA6 is suspected of laundering more than €336 million ($389 million) between 2022 and 2025, it said. Two alleged platform administrators of Ukrainian and Russian nationality were arrested in Georgia in a coordinated operation on Wednesday.
Investigators said they searched three properties, took down 25 domains and seized more than 30 servers. They also confiscated 80 vehicles and several properties in Georgia.
Europol said it froze cryptocurrencies worth €692,000 and seized cryptocurrencies worth more than €86,000. Telegram accounts used by the network were also blocked, it said.
Investigators believe AudiA6 became a central hub for ransomware actors and cybercriminals to cash out stolen digital assets without authorities being able to trace the money trail.
Polish police arrested a Ukrainian man in connection with the case on September 15 last year. Europol said searches at the time uncovered leads that helped identify additional suspects.
The latest international operation involved investigators from the United States, Australia, Canada, France, Switzerland and the United Kingdom, as well as staff from Germany’s Federal Criminal Police Office and the North Rhine-Westphalia State Criminal Police Office.
North Rhine-Westphalia Interior Minister Herbert Reul said Europol and the other investigators have “landed a big fish.”
FILE PHOTO: Herbert Reul, interior minister of North Rhine-Westphalia. (is associated with: «Europol: Global investigators dismantle cryptocurrency crime ring») Christoph Reichwein/dpa