Police arrested one suspect, the Spanish news agency EFE reported.
The bust started when police spotted a large speedboat about 10 nautical miles off Muxia. The officers, working with customs agents, then intercepted the boat as its crew was unloading the cocaine on land.
EFE said the crew abandoned the 100 bales of cocaine and fled, torching the speedboat a short distance away.
NBC reportedly holds celebs hostage to Jimmy Fallon's show
Aaron Carter is still in love with Hilary Duff