Europol has raised concerns over the increasing sophistication of blockchain-related crimes, prompting the European Union to intensify its cooperative efforts and investments in combating these threats. The head of Europol's European Financial and Economic Crime Centre (EFECC) emphasized the growing complexity of crypto crimes and the need for enhanced EU-wide collaboration. Key challenges identified include inconsistent blockchain analytics and a skills gap in open-source investigative tools. A report by Chainalysis projects that $40.9 billion in illicit cryptocurrency was received in 2024, underscoring the expanding scale of the issue. Europol has been active in dismantling criminal networks, including a Latvian cybercrime group laundering over $330,000 in crypto, a hawala banking operation moving more than $23 million, and a fraud ring that defrauded nearly $540 million from 5,000 victims in 2024.