EU

Report: Surge in Cryptocurrency Crimes in the Western Balkans, Involving Amounts Exceeding Tens of Millions of Euros

ChainCatcher news, according to Decrypt, the latest research by the international NGO Global Initiative Against Transnational Organized Crime (GI-TOC) shows that the use of cryptocurrency in criminal activities in the Western Balkans (including countries like Albania and Serbia) continues to expand, primarily involving money laundering, drug trafficking, and illegal mining. The core data is as follows:Scale and Patterns of CrimeThe annual cryptocurrency transaction volume in the Western Balkans reaches $25 billion to $30 billion, with tens of millions of euros directly linked to criminal networks, funds are transferred through cryptocurrency wallets and used for legitimate business investments.Montenegro has become a key node for darknet cryptocurrency transactions, and Albania and Serbia have recently seen instances of using cryptocurrency to launder drug trafficking funds.Law Enforcement ChallengesThe region has recorded only 3 cases of cryptocurrency seizures to date (all occurring in the last three years), with the most recent case involving an Albanian criminal group from November 2024 to January 2025, seizing $10 million in crypto assets.Among the six countries, only Albania, Serbia, and Kosovo have enacted laws related to digital assets, but the implementation rules in Kosovo have yet to come into effect.Regulatory and Collaborative ShortcomingsThe EU's Markets in Crypto-Assets Regulation (MiCA) has not yet covered the non-member Western Balkans, and there is insufficient cross-border tracking technological capability.GI-TOC senior analyst Sasa Djordjevic pointed out the need to accelerate the adoption of FATF anti-money laundering standards, strengthen collaboration with Europol and Interpol, and deploy blockchain analysis tools to enhance law enforcement efficiency.The research warns that if the regulatory framework and law enforcement capabilities do not upgrade in sync, the cryptocurrency crime problem in the region will continue to worsen.
ChainCatcher Building the Web3 world with innovators