US sanctions Sinaloa Cartel-linked cash-to-crypto laundering network tied to fentanyl trafficking
The Block·
60-second summary
The US Office of Foreign Assets Control (OFAC) is sanctioning a Sinaloa Cartel-linked cash-to-crypto laundering network, accused of facilitating fentanyl trafficking proceeds through cryptocurrency transfers, specifically Bitcoin and Ethereum. The network allegedly laundered millions of dollars in illicit funds. This move aims to disrupt the cartel's financial operations, highlighting the growing concern of crypto's role in organized crime.
OFAC sanctioned a Sinaloa Cartel-linked cash-to-crypto network accused of laundering fentanyl proceeds through cryptocurrency transfers.