Crypto Playing ‘Growing Role’ in Crime Across Western Balkans: NGO
By: bitcoin ethereum news|2025/05/16 10:30:06
0
Share
In brief New research from the Global Initiative Against Transnational Organized Crime found that crypto is playing a “growing role” in criminal activity in the Western Balkans. The NGO found that tens of millions of euros linked to criminal networks from the region had been routed through crypto wallets. The Western Balkans has only three documented cases of crypto seizure, all of which occurred in the last few years. Criminals are making increasing use of cryptocurrency in Western Balkan nations such as Albania and Serbia, according to research from the Global Initiative Against Transnational Organized Crime (GI-TOC). Writing in one of two new risk bulletins for this month, the Geneva-based NGO found that seizing illicitly sourced crypto remains a big challenge in the Balkans, with Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia home to “only three documented cases of crypto asset seizures” to date. The bulletin explained that the illegal use of crypto has grown in tandem with more legitimate uses, as transaction volumes in the region sit somewhere between $25 billion and $30 billion. It’s in this context that Montenegro has become a major European node for the use of crypto on darknet marketplaces, while using crypto to launder the proceeds of drug trafficking has grown in recent years in Albania and Serbia, as per an earlier GI-TOC bulletin from December. Sasa Djordjevic, GI-TOC’s senior analyst for the Western Balkans, told Decrypt that cryptocurrencies are “playing a growing role in criminal activity in the Western Balkans,” with the region also seeing a growth in use for fraud and illegal crypto-mining. “Drug trafficking groups are increasingly using crypto to move and hide their profits,” he said. “Some suspicious transactions linked to criminal networks from the Western Balkans are worth tens of millions of euros, often routed through crypto wallets and reinvested into legal businesses.” Djordjevic also notes that such patterns tend to mirror known cocaine trafficking routes from Latin America to Europe, while GI-TOC has observed connections between criminal actors in the Western Balkans and darknet markets such as Hydra, prior to its shutdown in 2022. A growing problem GI-TOC’s latest bulletin suggests that illicit usage will continue growing in the region, given that local authorities are struggling to keep up with such usage in terms of regulations, technical expertise and cross-border cooperation. “Currently, only three out of six Western Balkan countries have adopted laws on digital assets, and implementation has yet to begin in one of them,” explained Djordjevic. The three countries Djordjevic is referring to here are Albania, Serbia and Kosovo, the latter of which introduced cryptocurrency legislation in November—but the bylaws necessary for implementation have not yet been adopted. “Although the EU’s MiCA regulation offers a path toward stronger oversight, full and consistent implementation across the region remains challenging, as the Western Balkans are not yet part of the EU,” he added. “Until regulatory and enforcement capacities are strengthened, the region will remain vulnerable to illicit crypto activity.” As mentioned above, the Western Balkans has only three documented cases of crypto seizure, all of which occurred in the last couple of years. The most recent of these involved the seizure of assets belonging to an Albanian crime syndicate, which was the target of an operation between November 2024 and January 2025. Working in conjunction with an unidentified stablecoin operator and a major crypto-exchange, forces from Albania, Belgium, the Netherlands, Spain and Europol seized the gang’s cash, bank accounts and other property, including hardware wallets containing $10 million in cryptocurrencies. Playing catch-up However, such examples are still few and far between, and for Djordjevic and GI-TOC, the situation won’t improve until the region’s authorities catch up with the pace of change. This not only means that governments should “adopt and enforce clear regulations” for tracing and seizing illicit crypto, but that law enforcement must “invest in advanced blockchain tools” and specialized training. “Implementing FATF recommendations and EU rules on crypto remains key, particularly for countries previously on the FATF grey list,” Djordjevic said, adding that closer cooperation with Europol, Interpol and other national agencies is also a necessity. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Source: https://decrypt.co/320192/crypto-playing-growing-role-in-crime-across-western-balkans-ngo
You may also like

Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
The narrative of RWA is not about traditional finance trying to capture crypto users, but rather crypto trying to capture traditional users.

Altcoin Price Outlook 2026: The Rotation Is Coming — Just Not the Way You Think
Bitcoin dominance at 58%, Fear & Greed at 39. If you think altcoin season is dead, you're reading the wrong signals. Here's what the data actually says about what comes next.

Oracle: The Second Battlefield Behind the Prediction Market War
By 2026, the oracle track has essentially evolved from the early "data pipeline" into a "verifiable facts layer" that supports the entire on-chain economy, and prediction markets serve as a magnifying glass to observe the competition in this red ocean.

a16z's key bet: Kalshi's weekly trading volume approaches $3 billion, transitioning from "prediction games" to financial infrastructure, the market begins to price "uncertainty."
The evolution of prediction markets: from niche products to "uncertainty pricing" infrastructure

Morning Report | Galaxy Digital announces Q1 2026 financial report; Liquid completes $18 million Series A financing; Polymarket plans to bring major exchanges to the U.S
Overview of Important Market Events on April 28

From a banned economist to the new CEO of Xinhua: Fu Peng has figured out the second half of traffic
This uproar in the crypto circle appears to be a cultural conflict between a traditional economist and a crypto OG, but looking deeper, it is merely the new fire leveraging Fu Peng's influence in the traditional financial sector to pry open a batch of client funds that were originally difficult to r...

Why Private Credit Became the First True Bridge from TradFi to DeFi
Unveiling the core logic of private credit leading RWA: it is no longer just simple tokenization, but rather a true reshaping of the practical value of asset on-chain through real returns and deep integration with the DeFi ecosystem.

Senior cryptocurrency investor: Blockchain is showing a siphoning effect on capital
Stablecoins are the first real-world assets on the blockchain, but they will not be the last. Every billion dollars in stablecoins generates $12.2 billion in economic activity and $19 million in protocol revenue annually; once capital is on the blockchain, it gains productivity and does not go back.

When traditional crypto derivatives start to subtract: Insights from Hyper Trade's products
Say goodbye to complex contracts, as crypto derivatives begin to "subtract": This article breaks down how Hyper Trade reduces hardcore risk pricing into "second-level multiple-choice questions," reshaping the trading experience for retail investors.

My view on blockchain has changed
In-depth Reflection on the Value of Blockchain Applications and the Time Dimension

Will AI Agents use bank cards? Why can't Agentic Payment avoid stablecoins and blockchain?
Why can't AI agents just swipe bank cards? An article to understand the new tiered payment system: stablecoins and blockchain are becoming the exclusive settlement language and verifiable trust foundation of the "machine economy" era.

Deconstructing 80 mainstream payment institutions and wallets worldwide
A comprehensive analysis of the global top 100 payment companies. Led by Alipay and WeChat, this article provides insights into the business logic and competitive advantages of over 80 top players.

The MiCA Fast Track for Cryptocurrency Licenses: Why OKX and BVNK Choose Malta
Countdown to the EU MiCA Licensing: Why do crypto giants like OKX choose Malta for their "first license"? A deep dive into the CASP license application process, business portfolio logic, and compliance pitfalls guide.

a16z Crypto: Stablecoins are rebuilding the global financial infrastructure
Stablecoins are evolving from cryptocurrency trading tools into a new infrastructure for global finance. They are not only changing cross-border payments but are also driving bank connectivity, corporate finance, foreign exchange liquidity, on-chain credit, and the globalization of the dollar into a...

ENI's RWA ambition: to create an enterprise-level BaaS platform that allows Web2 institutions to "go beyond just asset on-chain."
What are the differences between RWA 1.0 and RWA 2.0?

Morning Report | a16z releases global financial new stack report; Websea's withdrawal channel suspected of running away; Strategy purchased 3,273 bitcoins last week
Overview of Important Market Events on April 27

The most Crypto group of people is becoming the least Crypto
Hong Kong Carnival × Bangkok Money 20/20 Observation Notes

MSTR STRC In-depth Study: The BTC Financing Flywheel Behind the 11.5% Yield
STRC is a well-designed financing tool that transforms fixed income demand into buying pressure for Bitcoin.
Revisiting RWA: Nearly 50,000 people's first on-chain transaction was not Bitcoin, but stock indices and crude oil
The narrative of RWA is not about traditional finance trying to capture crypto users, but rather crypto trying to capture traditional users.
Altcoin Price Outlook 2026: The Rotation Is Coming — Just Not the Way You Think
Bitcoin dominance at 58%, Fear & Greed at 39. If you think altcoin season is dead, you're reading the wrong signals. Here's what the data actually says about what comes next.
Oracle: The Second Battlefield Behind the Prediction Market War
By 2026, the oracle track has essentially evolved from the early "data pipeline" into a "verifiable facts layer" that supports the entire on-chain economy, and prediction markets serve as a magnifying glass to observe the competition in this red ocean.
a16z's key bet: Kalshi's weekly trading volume approaches $3 billion, transitioning from "prediction games" to financial infrastructure, the market begins to price "uncertainty."
The evolution of prediction markets: from niche products to "uncertainty pricing" infrastructure
Morning Report | Galaxy Digital announces Q1 2026 financial report; Liquid completes $18 million Series A financing; Polymarket plans to bring major exchanges to the U.S
Overview of Important Market Events on April 28
From a banned economist to the new CEO of Xinhua: Fu Peng has figured out the second half of traffic
This uproar in the crypto circle appears to be a cultural conflict between a traditional economist and a crypto OG, but looking deeper, it is merely the new fire leveraging Fu Peng's influence in the traditional financial sector to pry open a batch of client funds that were originally difficult to r...
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
