Abstract Recently, genus Aspergillus, a fungus capable of producing aflatoxins, secondary highly toxic metabolites, has spread to new areas. These areas became suitable habitats due to the recent climate changes. The use of aflatoxin-contaminated crops is a cause of great concern in guaranteeing food safety and is responsible for major economic losses along the supply chain. For this reason, several strategies have been investigated to utilize these contaminated products as a possible food or feed resource by reducing or eliminating their aflatoxin content, but with limited relevant success. The presented study was aimed to evaluate a combination of biological processes to use aflatoxin B1 contaminated crops for their reintroduction into the production chain. The high tolerance to AFB1 and the apparent lack of accumulation in yellow mealworm larvae, reared on wheat bran substrates, spiked with increasing AFB1 concentration (0, 125, 250, 500 μg/kg) to obtain proteins of high biological value. Subsequently, the aflatoxin-degrading capacity of Rhizopus oryzae and Trichoderma reesei was applied to insect breeding waste (frass) in a fermentation process to ensure further utilization of biohazardous frass as soil conditioner. Individually, each process proven to be able to reduce the AFB1 present by about 80%, while the combination of the two approaches ensured the total degradation of aflatoxin B1-contaminated substrate and frass, which resulted in the possible production of biomass, that could be used for the feed and agricultural industry.