Turkish authorities have detained 31 suspects in a major operation targeting money laundering linked to drug trafficking, with raids conducted across 17 provinces and financial transactions worth approximately $60.4 million under investigation.

The operation was coordinated by the Izmir Chief Public Prosecutor's Office and involved anti-narcotics units from the Izmir Provincial Police Department, the General Directorate of Security and the Financial Crimes Investigation Board (MASAK), TRT Haber reports.

A total of 350 law enforcement officers took part in the raids.

Investigators found that the suspects had conducted financial transactions worth approximately 2.1 billion Turkish liras ($60.4 million).

According to the investigation, 29.1 million liras (around $838,000) in suspected criminal proceeds were transferred abroad through cash couriers.

Another 479 million liras (approximately $13.8 million) was reportedly converted into cryptocurrency in smaller transactions through professional intermediaries and stored in cold wallets.

Authorities also established links between the suspects and the trafficking of 163,000 narcotic pills and 94 kilograms of illegal substances.

As part of the operation, assets believed to have been purchased with criminal proceeds, valued at 70 million liras (around $2.01 million), were seized.

The confiscated assets include six properties, eight vehicles and shares in four companies.