The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on six Ethereum addresses linked to the Sinaloa cartel. These addresses are alleged to have been used to convert and launder proceeds from drug trafficking into cryptocurrency. These measures are part of a broader set of restrictions against 11 individuals and two entities involved in the cartel's financial networks. This is reported by Cointelegraph.com .
According to the Treasury Department, a group led by Armando de Jesus Ojeda Aviles collected large amounts of cash from the sale of fentanyl and other substances in the US, then converted them into digital assets to transfer to the cartel in Mexico. This situation shows that criminal groups are actively using blockchain technology alongside cash couriers and shell companies.
These Ethereum addresses, blacklisted by OFAC, increase sanction risks for cryptocurrency exchanges, wallet providers, and other virtual asset service providers. While the ministry has not yet specified which platforms or protocols the network used, a warning has been issued to all firms that monitor transactions.
Recent major hacking attacks in the crypto world also confirm that sophisticated methods are being used to launder funds. For example, a large portion of the $1.4 billion stolen from the Bybit exchange was laundered by transferring Ethereum assets to the Bitcoin network via THORChain. A similar scheme was also reported in the attack on the Kelp DAO project.
Read “Zamin” on Telegram!
