MADRID, ES – Spanish police told Turkish news outlet Anadolu Thursday that they have arrested the CEO of Bitzlato, the marketing director, and the sales executive, on allegations of money laundering. The arrests were the culmination of a joint effort from French, Portuguese, Cyprian, and American authorities.

Spanish police locked up over 100 cryptocurrency accounts on the exchange and seized more than €18 million ($19.8 million) worth of luxury including cars, smartphones, and digital assets.

Police said in Anadolu’s report that “this is a major blow to the cybercrime ecosystem, and especially the opaque mechanisms used to launder money and monetize the fruits of their activity.”

Last month the founder of Bitzlato, Anatoly Legkodymov, was arrested in Miami, Florida, for money laundering and regulatory negligence by not enforcing KYC/AML standards as required by U.S. law.