Treasury Sanctions Ethereum Wallet Used by Sinaloa Cartel to Launder Fentanyl Financing 

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned an Ethereum wallet utilized by the Sinaloa Cartel to launder wealth from fentanyl income successful the U.S. Mario Alberto Jimenez Castro, an accused wealth launderer for the cartel’s Los Chapitos faction, allegedly directed the usage of cryptocurrency and ligament transfers to wage cartel leaders successful Mexico, according to OFAC.

U.S. Treasury Targets Sinaloa Cartel Member’s Ether Wallet successful Crackdown connected Fentanyl Distribution

OFAC said Tuesday it sanctioned 10 individuals, including respective Sinaloa Cartel affiliates and fugitives, for contributing to the planetary proliferation of illicit drugs. In summation to sanctioning people, OFAC designated the Ethereum wallet with the code “0x9c2” utilized by Jimenez Castro.

“Jimenez Castro has directed U.S.-based couriers to prime up currency successful the United States and deposit it into assorted virtual currency wallets for outgo straight to the Chapitos and for reinvestment successful fentanyl production,” OFAC said.

The Sinaloa Cartel is considered 1 of the astir almighty cause trafficking groups successful Mexico and is simply a large supplier of fentanyl successful the U.S. OFAC said the sanctions people members of Los Chapitos, a faction tally by the sons of imprisoned Sinaloa person Joaquin “El Chapo” Guzman.

OFAC said the sanctions show “the [Biden] Administration’s strengthened attack to redeeming lives by disrupting the trafficking of illicit fentanyl and its precursors into American communities.”

The sanctions frost immoderate U.S. assets held by the Ethereum wallet and prohibit Americans from conducting transactions with the wallet. OFAC said it volition proceed targeting overseas cause traffickers contributing to the opioid epidemic done sanctions.

What bash you deliberation astir OFAC sanctioning an ethereum wallet allegedly utilized by Sinaloa Cartel leader? Share your thoughts and opinions astir this taxable successful the comments conception below.