OFAC sanctioned six Ethereum addresses linked to a Sinaloa Cartel money laundering network allegedly converting drug proceeds into crypto.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned six Ethereum addresses tied to a Sinaloa Cartel-linked money laundering network that allegedly converted drug proceeds into cryptocurrency.
OFAC added the addresses to its Specially Designated Nationals list (a US sanctions list of people, entities and assets subject to blocking restrictions) on Wednesday as part of sanctions against 11 individuals and two entities connected to two Sinaloa Cartel financial networks.
Treasury said one network, led by Armando de Jesus Ojeda Aviles, collected bulk cash in the US from fentanyl and other drug sales before allegedly converting the money into cryptocurrency for transfer to the cartel in Mexico.
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