UAE and Sweden trace $7.1M crypto laundering network

• UAE and Swedish authorities have arrested seven suspects linked to an alleged $7.1 million laundering network.
• Crypto transaction tracing has helped investigators identify links to organised crime and alleged contract killings.
• The suspected leader has been arrested in the UAE, while six alleged members have been detained in Sweden.

UAE and Swedish authorities have arrested seven suspects after tracing an alleged crypto-linked laundering network handling about $7.1 million.

Investigators have said the network moved roughly 70 million Swedish krona over 10 months through criminal proceeds and cryptocurrency transfers.

The suspected leader, a Swedish national, has been arrested in the UAE after fleeing Sweden and becoming the subject of an Interpol Red Notice.

Six other alleged members have been detained in Sweden, while authorities have not disclosed the cryptocurrencies, wallets, exchanges or transaction amounts involved.

Swedish authorities have also increased efforts to seize digital assets linked to suspected criminal networks, with 80 million Swedish krona seized under expanded asset rules by mid-2025.

Legal proceedings have opened against all seven suspects, although authorities have not publicly identified them or disclosed the specific charges each person faces.