Italian police have busted a mafia-linked crypto laundering ring that moved €68 million ($76 million) out of the country under the guise of a Milan-based car rental company.

According to Il Sole 24 Ore, the operation, carried out by the Guardia di Finanza and Monza Brianza, has seen 30 individuals arrested and stretches across Italy, Spain, and Switzerland. 

The scheme allegedly took funds from drug trafficking, crypto scams, fraudulent invoices, and general bank accounts, combined them, and moved them into European banks. 

Crypto exchanges were then used to convert the funds sending them onto wallets controlled by the suspects.

A Milan-based car rental run by suspects with ties to the Ndrangheta and Camorra mafia…