UAE, Sweden arrest seven tied to $7.1M crypto laundering ring

Authorities in the UAE and Sweden arrested seven people tied to an international money-laundering ring involving about $7.1 million, Decrypt reported. The suspects are accused of moving and concealing 70 million Swedish kronor in criminal proceeds through cryptocurrencies over about 10 months. Investigators said tracing the crypto transactions also indicated the funds were linked to other criminal activity, including organized crime and contract killings.