A 40-meter-long vessel sank off the coast of southern Crete to a depth of at least 1,000 meters on Saturday.
The Malpas vessel was allegedly carrying what authorities believe was a suspicious cargo.
Its five crew members – all Syrian nationals – were rescued by port authorities and were reportedly in good health.
They were transferred to the town of Ierapetra for questioning by authorities.
According to the Shipping Ministry, the ship sank quickly in poor weather.