Chile has busted an $88 million cryptocurrency money laundering ring, arresting 18 suspects and freezing over 140 bank accounts.

CoinFeed reported on June 7th, citing Bitcoin.com, that Chile has dismantled an $88 million cryptocurrency money laundering ring linked to the sanctioned Venezuelan transnational criminal organization Tren de Aragua. After a two-year investigation, police arrested 18 individuals suspected of laundering money in Chile using crypto assets; these individuals were members of the Venezuelan Tren de Aragua group. The operation, conducted by Chilean police and the Southern Attorney General's Office, took place in three regions of Chile. During the operation, over 140 bank accounts were frozen, and $300,000 of the organization's funds were seized.