Crypto crime on the rise in Spain’s Basque Country, say police

A crypto crime wave is sweeping Southern Europe.

Police warn that scammers, crypto kidnappers, and money launderers are running amok.

The latest area to report a rise in crypto crime is the Basque Country, in Northern Spain, reported Spanish media outlet Cope. Ertzaintza, the region’s police force, said the 541 crypto-related crime cases investigated last year still remain active.

Ertzaintza officers said they have invested in tools to help them monitor crypto transactions across multiple blockchain networks. They have also developed new interdepartmental teams that specialise in crypto-related crime.

The popularity of crypto continues to rise in Spain. In late 2024, a major survey found that around 11 million Spanish residents — around 4 million people — currently own or have previously held crypto.

But crime figures are also rising. Last year, Europol officials noted a rise in “increasingly sophisticated, complex, and organised” crypto-related offenses.

Police response

Ertzaintza said that among the cases it is now investigating are 13 instances of alleged crypto-powered fraud, as well as two cases whereby suspects reportedly used crypto as a money-laundering tool.

The police force said that it is also investigating suspects accused of using crypto to help them evade taxes and pay for illegal goods and services.

Police said many of these crimes are highly technical in nature and “require a cross-departmental response within Ertzaintza.”

Crypto-related investigations are now coordinated by local Ertzaintza stations, which work with a central economic crimes bureau and a new cybersecurity unit.

This new unit is staffed with 26 detectives who fight crypto fraud, as well as online child sexual abuse cases and hacks.

Ertzaintza officials warned of a sharp rise in bogus crypto investment schemes targeting Basque Country residents on social media platforms like Instagram.

Instagram threat

Scammers use data obtained via identity theft to pose as friends or acquaintances online, offering investment-related advice, police said.

All crypto trading platforms operating in Spain must be registered with the nation’s securities regulator, officers told the public.

Many scammers dupe their victims into installing apps that let criminals take control of their internet-connected devices, Ertzaintza said. This allows attackers to remotely drain crypto wallets and bank accounts.

Ertzaintza officials worked with national police in December 2024 to dismantle a major voice phishing and drug trafficking ring that used crypto to launder money.

The Catalonia-based ring used operatives in the Basque Country to withdraw funds it had laundered through bank accounts and crypto wallets.

Tim Alper is a News Correspondent at DL News. Got a tip? Email him at tdalper@dlnews.com.