According to CoinMeta, and as reported by Bloomberg, the prosecution in Milan, Italy, has announced a crackdown on an underground banking network suspected of being linked to the mafia. Actions are being taken to arrest 30 suspects. The network is alleged to have transferred approximately 68 million euros overseas and used cryptocurrencies to launder illicit funds. The investigation reveals that the organization is associated with Italian mafia groups 'ndrangheta' and 'camorra', with participants from China and Albania. The funds involved include proceeds from drug transactions, money generated from fraudulent invoices, and illicit gains from cryptocurrency investment scams. Some of the funds were transferred through bank accounts in Luxembourg, Lithuania, and Germany before being moved into relevant digital wallets via cryptocurrency exchanges. Investigators also discovered more than 110 million euros in fraudulent invoices. The law enforcement operation also involves Spain and Switzerland.