U.S. Treasury goes after Ethereum wallet used by Sinaloa Cartel for fentanyl trafficking | Headlines | News | CoinMarketCap
09/26/2023 22:34
The Department of the Treasury's Office of Foreign Assets Control sanctioned a member of Mexico's Sinaloa Cartel it said used an Ethereum wallet to …
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Published on September 26, 2023 15:23 GMT+00:00edited on September 26, 2023 15:24 GMT+00:00
The Department of the Treasury's Office of Foreign Assets Control sanctioned a member of Mexico's Sinaloa Cartel it said used an Ethereum wallet to move funds connected to the smuggling of fentanyl into the U.S.
Jimenez Castro was named as operating a money laundering organization that uses virtual currency and wire transfers to send proceeds to Sinaloa Cartel leaders, the Treasury said in a statement Tuesday.
"Jimenez Castro has directed U.S.-based couriers to pick up cash in the United States and deposit it into various virtual currency wallets for payment directly to the Chapitos and for reinvestment in fentanyl production," it said.
The Los Chapitos faction of the Sinaloa Cartel is responsible for a significant portion of the illicit fentanyl and other deadly drugs …