Italian law enforcement officers have shut down a major cryptocurrency exchanger with a turnover of over $10 million.
Date: 2025-07-17 Author: Henry Casey Categories: IN WORLD
Monitoring blockchain transactions using the analytical tools Chainalysis Reactor and Wallet Scan helped to identify the exchanger's activities. These technologies allowed specialists to track cryptocurrency transfers that were used to purchase prohibited substances on the darknet. The Italian Financial Guard conducted a detailed analysis of the transfers and established a link between the transactions and the final recipients of the funds.
During the raid, the police detained Franco Lee, a Chinese citizen and operator of the cryptocurrency service, as well as other individuals involved in the exchanger's work. During the search, law enforcement officers managed to seize digital assets, including bitcoins, ether, USDT and Matic.
Earlier, the US Drug Enforcement Agency (DEA) reported an operation that resulted in the seizure of cryptocurrency worth more than $10 million, associated with the Mexican drug cartel Sinaloa.
This operation demonstrates the growth of law enforcement capabilities in tracking and blocking illegal activity in the cryptocurrency sphere. Modern blockchain analytics technologies make it possible to identify illegal financial flows and expose the organizers of shadow services.
As a result of the joint efforts of international law enforcement agencies, the influence of criminal groups using digital assets for money laundering and financing criminal activities is decreasing. The Italian police continue to work to identify and suppress operations related to the illegal circulation of cryptocurrencies.
