Who says it is operating in Europe? Just because you can reach it with a browser from Europe does not mean it has a business nexus in the EU.
Yes I know the EU claims that GDPR covers the entire world, but the practical reality is that they do not have overseas strike forces going after small web publishers for cookie banners.
TBH there isn't even a domestic enforcement of cookie preferences, no one actually gives a damn it seems. Violations of handling personal data – fines do happen for that. Cookies – nope, you won't even get a notice.
In the same way popups saying "by continuing to view this site you consent to cookies" do? The user is informed and the cookie is(/should be) only set once they click a link / button / scroll past the initial view, which means they have taken an 'informed' action regarding cookies.
That conforms to the earlier EU cookie directive, but not to the GDPR. Under the GDPR, consent much be freely and explicitly given, and must be as easy to revoke as it is to give. Clicking a link or scrolling down is not explicit. Since use of the site is conditional on accepting the tracking, the consent isn't freely given. Since there is no button to reject the cookies, it is harder to reject the tracking than it is to accept.
Failing all three conditions for acquiring consent, my conclusion is that the site is blatantly violating the GDPR.