Report: Cryptocurrency Crime Surges in the Western Balkans, Involving Tens of Millions of Euros

According to Decrypt, a new study by the international NGO Global Initiative Against Transnational Organized Crime (GI-TOC) shows that the use of cryptocurrency in criminal activities in the Western Balkans (including countries like Albania and Serbia) continues to expand, mainly involving money laundering, drug trafficking, and illegal mining. The core data is as follows:

1. Scale and Patterns of Crime

• The annual cryptocurrency transaction volume in the Western Balkans reaches $25 billion to $30 billion, with tens of millions of euros directly linked to criminal networks. Funds are transferred through crypto wallets and used for legitimate business investments.
• Montenegro has become a key node for darknet crypto transactions, with Albania and Serbia frequently using cryptocurrency to launder drug trade funds in recent years.

1. Law Enforcement Challenges

• Only three cases of cryptocurrency seizures have been recorded in the region so far (all in the past three years), the most recent being a case involving an Albanian crime group from November 2024 to January 2025, seizing $10 million in crypto assets.
• Among the six countries, only Albania, Serbia, and Kosovo have passed laws related to digital assets, but Kosovo's implementation rules have yet to take effect.

1. Regulatory and Collaboration Shortcomings

• The EU's Markets in Crypto-Assets Regulation (MiCA) does not yet cover the non-member Western Balkans, and there is a lack of cross-border tracking technology capabilities.
• GI-TOC senior analyst Sasa Djordjevic points out the need to accelerate the adoption of FATF anti-money laundering standards, strengthen collaboration with Europol and Interpol, and deploy blockchain analysis tools to enhance law enforcement efficiency.

The study warns that if the regulatory framework and law enforcement capabilities cannot be upgraded in sync, the issue of cryptocurrency crime in the region will continue to deteriorate.