US Sanctions Sinaloa Cartel-Linked Ethereum Addresses
Cointelegraph
The US Treasury has sanctioned six Ethereum addresses linked to a Sinaloa Cartel money laundering network involved in converting drug proceeds into cryptocurrency.Summary
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has added six Ethereum addresses to its Specially Designated Nationals list. These addresses are linked to a Sinaloa Cartel money laundering operation that converted illicit drug proceeds, including fentanyl sales, into digital assets. This move underscores the growing trend of criminal organizations utilizing blockchain technology alongside traditional money laundering methods, posing significant compliance challenges for cryptocurrency exchanges and virtual asset service providers.
(Source：Cointelegraph)