Study: Cryptocurrency use increasing in criminal activity in Western Balkans

According to Decrypt, the latest research by the Global Initiative Against Transnational Organized Crime (GI-TOC) shows an increasing use of cryptocurrencies in criminal activities in the Western Balkans, involving countries such as Albania and Serbia. Criminal networks are transferring tens of millions of euros through crypto wallets, primarily for money laundering in drug trafficking, fraud, and illegal mining. GI-TOC points out that the transaction volume in the region reaches $2.5 billion to $3 billion, but only three cryptocurrency asset seizure cases have been recorded, indicating insufficient regulatory and technological capabilities.