1 year ago
The Office of Foreign Asset Control (OFAC) nether the Treasury has released an updated mentation of the specially designated nationals (SDN) list, featuring aggregate alleged fentanyl traffickers from China on with their associated cryptocurrency addresses. These highlighted crypto addresses are connected to decentralized networks specified arsenic Bitcoin, Ethereum, and Tron.
OFAC Targets Chinese Fentanyl Traffickers; Sanctions 17 Crypto Addresses
Continually broadening its database of crypto addresses linked to imaginable wrongdoers, OFAC identified 17 caller addresses connected October 3, 2023. Associated with blockchains similar Bitcoin, Ethereum, and Tron, arsenic good arsenic integer assets similar tether (USDT), these addresses were linked to a web of fentanyl suppliers chiefly located successful China but besides connected to entities successful Canada.
Chainalysis published a report connected the topic, revealing that the addresses collectively received “$3.8 cardinal worthy of cryptocurrency.” Several individuals, including Bahman Djebelibak, Shen Xianbiao, Wang Jiantong, Zhang Wei, Xia Fengbing, and Wang Mingming on with the Canada-based institution Valerian Labs, were sanctioned by OFAC.
According to Chainalysis’ study, Fengbing managed the crypto addresses for an enactment called Jiangsu Bangdeya New Material Technology. The firm’s Reactor bundle recovered that the sanctioned addresses besides had ties to galore “mainstream exchanges.” Furthermore, a sizeable information of funds originated from darknet markets. This update follows OFAC’s caller sanctions connected respective BTC addresses allegedly related to Iran-linked ransomware activities.
In summation to the OFAC sanctions, the U.S. Department of Justice (DOJ) announced eight indictments against the ringing of fentanyl, methamphetamine, and precursor chemic dealers. The indictments people the drawstring of companies and individuals for openly advertizing illicit chemic income and utilizing techniques to evade instrumentality enforcement. “We cognize that the planetary fentanyl proviso chain, which ends with the deaths of Americans, often starts with chemic companies successful China,” Attorney General Merrick Garland said.
What bash you deliberation astir OFAC flagging 17 crypto addresses? Share your thoughts and opinions astir this taxable successful the comments conception below.
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