Europol reports 20 arrests in cryptocurrency-enabled money-laundering case

As part of an international operation involving 16 countries, 20 people were arrested on suspicion of involvement in the criminal group QQAAZZ. This was reported on thesite of Europol.

According to law enforcement, QQAAZZ was involved in laundering funds obtained from cybercriminals.

To this end, group members opened bank accounts in various countries around the world, into which the perpetrators transferred funds stolen from victims. They then moved them to other accounts and, in some cases, converted them into cryptocurrencies using mixer services.

For this, members of the group charged commissions of up to 50% of the laundered amount.

QQAAZZ marketed its services on Russian-language cybercrime forums.

Preliminary estimates indicate that since 2016 QQAAZZ laundered or attempted to launder tens of millions of euros.

Among their alleged clients were operators of malware, including Dridex, Trickbot and GozNym.

During the operation, about 40 searches were conducted in Latvia, Bulgaria, the United Kingdom, Spain and Italy. Among other items, Bitcoin mining equipment was seized.

Criminal cases have been filed against those arrested in the United States, Portugal, the United Kingdom and Spain.

Earlier, QQAAZZ was linked to a Russian, Maxim Boyko, who was arrested in the United States. He was charged with laundering money using cryptocurrencies, including through the BTC-e Bitcoin exchange.

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