US sanctions Sinaloa Cartel-linked cash-to-crypto laundering network tied to fentanyl trafficking
The Block
The U.S. Treasury sanctioned individuals and entities laundering drug money into cryptocurrency for the Sinaloa Cartel.Summary
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on several individuals and entities involved in a money laundering network linked to the Sinaloa Cartel. This network allegedly converted proceeds from fentanyl and narcotics trafficking into cryptocurrency to move funds from the United States to cartel leadership in Mexico. Key figures, including Armando de Jesus Ojeda Aviles, reportedly coordinated U.S. cash pickups and managed digital currency transfers to facilitate the illicit operations of the Los Chapitos faction. These sanctions effectively freeze the U.S. assets of all designated parties and prohibit U.S. persons from conducting business with them.
(Source：The Block)