Crypto Crime Ring Busted: 17 Arrested in $23 Million Laundering Scheme

By: bitdegree|2025/05/15 17:30:08

Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. Participate Now ! Authorities in Europe have arrested 17 people involved in an illegal money-moving network that helped other criminal groups transfer over €21 million (about $23.5 million) using cryptocurrency. The group operated mainly in Spain, with links to Austria and Belgium, and supported clients involved in drug smuggling and human trafficking , according to a May 14 report from Europol . Instead of going through traditional banks, the network used a system similar to hawala—an informal way to send money that relies on personal trust rather than official records. In this case, crypto was used to carry out the transfers . Did you know? Subscribe - We publish new crypto explainer videos every week! What is Ripple? Beginner-Friendly XRP Explainer (Animated) SUBSCRIBE Investigators said the group also advertised these services on social media , which presented them as normal remittance options. The arrests, carried out in January 2025, followed a joint operation led by Spanish authorities with help from Belgium and Austria. Europol supported the investigation, and over 250 officers were involved in the raids. Most of the suspects were from China or Syria and targeted clients from similar backgrounds. Fifteen people were arrested in Spain, one in Austria, and one in Belgium. So far, 15 of them have been placed in custody while the investigation continues. Police seized €4.5 million (around $5 million) worth of items during the operation. This included 18 cars, four shotguns, and various electronics. About €183,000 (roughly $205,000) in cryptocurrency was taken, along with €421,000 (around $471,000) in cash from 77 linked bank accounts. Officers also collected high-value goods such as designer bags, watches, and cigars worth €876,000 (close to $980,000). Meanwhile, on May 8, the US Department of Justice sentenced Mohammed Azharuddin Chhipa of Virginia to over 30 years in prison. What led to the sentencing? Read the full story .

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins