Bosnia Seizes Million-Euro Crypto Mining Rig from Cocaine Cartel

In a landmark operation, Bosnian authorities have busted a cocaine cartel which uniquely used cryptocurrency mining for money laundering. This operation was conducted on 9 May 2023 in Sarajevo, Bosnia and Herzegovina, Europol reported.

During the action, the Police Directorate, State Prosecutor’s Office, and Canton Sarajevo Prosecutor’s Office seized 247 cryptocurrency mining machines worth over 1 million EUR. 

The operation led to the arrest of seven individuals, with two more being pursued under international arrest warrants. The extensive operation saw 30 homes raided and 10 companies searched.

Apart from the high-value mining machines, the authorities confiscated other assets. These include five luxury vehicles, cash in different currencies worth about 100,000 EUR, and luxury goods including jewellery and watches. Bank accounts holding approximately 150,000 EUR were also seized, as were four pistols with 300 rounds of ammunition.

The cocaine was typically smuggled from South America to Europe, concealed in everyday items such as coal or tuna cans. 

The successful operation was facilitated by an intelligence from Europol, demonstrating the importance of international cooperation in tackling such intricate and technologically advanced criminal networks. The new emergence of crypto-fueled money laundering signals a shift in criminal strategies, warranting heightened vigilance and innovative countermeasures.