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Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Ingredients: U.S.
20.6.2024
Criminal organizations in Mexico have been using several popular digital assets to buy the materials needed to make the drug fentanyl, according to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which cited the use of bitcoin and other tokens in a Thursday advisory
US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme
29.5.2024
A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua”...
DOJ Captures Alleged ‘Architect’ of Darknet Marketplace Incognito
21.5.2024
According to the U.S. Department of Justice (DOJ), the operator of the darknet marketplace Incognito was apprehended at John F. Kennedy Airport on May 18. Law enforcement officials claim Rui-Siang Lin allegedly constructed the DNM and facilitated the sale of over $100 million worth of illegal drugs...
Cartier Family Member Indicted for Using USDT to Launder Hundreds of Millions in Drug Trafficking Money
7.5.2024
Maximilien De Hoop Cartier, a descendant of the family famous for their French luxury goods Cartier, has been indicted for his participation in a network that allegedly used several shell companies to launder drug trafficking money proceeds using USDT. Cartier and five Colombian individuals...
Indonesian Authorities Bust Synthetic Marijuana Lab Supported by Crypto
7.5.2024
The syndicate had been operating for six months before being apprehended last week
Cartier Jewelry Heir Busted for Laundering Money with Crypto
6.5.2024
An heir to the Cartier empire was arrested last week by the US Justice Department (DoJ). He was accused of utilising Tether's USDT stablecoin to launder the proceeds of drug trafficking. The charges indicate a unique convergence of powerful individuals and cryptocurrency-related criminal...
South Korean Police Arrest 452 People on Crypto-powered Drug Trafficking Charges
29.2.2024
South Korean police continue to wage “war” on crypto-powered drug trafficking, with officers in the capital Seoul making 452 arrests from June 2022 to December 2023.
The post South Korean Police Arrest 452 People on Crypto-powered Drug Trafficking Charges appeared first on Cryptonews
Illicit Virtual Asset Use On The Rise, U.S. Treasury Report Reveals
7.2.2024
The U.S. Treasury Department is seeing an increase in illicit crypto use according to a Thursday report. The department’s 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing report highlights that virtual assets are increasingly used by illicit...
Indian National Pleads Guilty in Case Involving ‘Largest Single Cryptocurrency and Cash Seizure in DEA History’
30.1.2024
An Indian national has pleaded guilty in a case involving “the largest single cryptocurrency and cash seizure” in the U.S. Drug Enforcement Administration (DEA) history. The defendant “is designated as a Consolidated Priority Target, which makes him one of the most significant...
US Government to Sell $116 Million in Bitcoin Seized From Darknet Dealer ‘Xanaxman’
26.1.2024
The forfeiture division of the U.S. government has announced its plan to sell 2,933.64 bitcoin. These were confiscated from Ryan Farace, who faced charges in 2021 for laundering proceeds from drug trafficking. Farace, also known by his alias Xanaxman, disclosed in his plea agreement that...
Senator Warren’s Bipartisan Push to Combat Crypto Money Laundering Gains Momentum
12.12.2023
Source: Screenshot of video Sen. Elizabeth Warren’s YouTube page Senator Elizabeth Warren (D-Mass.) has announced an increase in support for the bipartisan Digital Asset Anti-Money Laundering Act, which aims to tackle concerns around the use of crypto in illegal activities such as money laundering...
South Korean Police Arrest 48 in ‘Crypto-powered Drug Trafficking’ Raids
30.11.2023
Source: Angelov/Adobe Police in the South Korean city of Daegu say they have raided a “drug trafficking organization” that used crypto as a payment tool – and arrested 48 people. Per Chosun Ilbo, the Daegu Police Agency’s metropolitan investigation unit arrested 44 people connected to a suspected...
Prisoners’ Dreams to Stash $54M in Crypto in Exotic Locales Dashed as Feds Grab Them for Treasury
2.11.2023
Federal law enforcement has seized $54 million worth of cryptocurrencies from the leader of a notorious New Jersey drug ring, U.S. Attorney Philip R. Sellinger said Thursday in a statement
UK Lawmakers Roll Out Legislation to Seize Cryptocurrencies Used for Illegal Purposes
26.10.2023
The UK Parliament has passed a bill that allows law enforcement authorities to seize cryptocurrencies associated with illicit activities. This includes investment scams, hacks, terrorism financing, money laundering, and drug trafficking. Per an official announcement on its website, the new bill...
FBI Charges Six in Connection with $30M Crypto Crime Ring
20.10.2023
The Federal Bureau of Investigation (FBI) filed charges on Wednesday against six individuals for allegedly running an unlicensed money-transmitting business involving $30 million in cryptocurrencies.
The information came to light through court documents filed in the Southern District of New York....
South Australian Police Seizes $1.5M in Crypto From Man Charged With Drug Trafficking
5.10.2023
South Australian police have apprehended a 25-year-old man from Adelaide Hills on charges of drug trafficking and money laundering, with approximately $1.5 million worth of crypto seized during the operation.
The accused individual operated multiple vendor profiles on the dark web, selling various...
OFAC Blacklists ETH Wallet Operated By Cartel for Illicit Drug Trafficking
26.9.2023
In a new round of sanctions, the US Department of Treasury's Office of Foreign Assets Control (OFAC) has added ten more individuals to its blackbook.
According to a September 26 press release, the US government agency disclosed that many of these individuals were affiliated with an international...
S Korean President Calls for ‘War’ on Crypto-powered Drug Trafficking
19.4.2023
South Korean President Yoon Seok-yeol has declared an “all-out war” on crypto-powered drug trafficking after a large number of narcotics-trading teens were handed jail time.
Per Today Korea, Yoon said there was a “need” to “mobilize all government capabilities in the fight against drugs.”
At...
US Justice Department Returns Stolen Bitcoin to Victim of Government Imposter Scam
16.3.2022
The U.S. Justice Department has seized bitcoin stolen from an elderly man in a government imposter scam and will be returning the cryptocurrency to him. “The fraudsters deceived the victim into believing his personal information had been used to facilitate a drug trafficking and money...
Indian Lawmaker Says Crypto Must Be Blocked if Used for Illegal Purposes
20.12.2021
India’s minister of state for external affairs says that cryptocurrencies must be blocked if they are used for illegal purposes, such as “to launch cyber-attacks in India, to launch other attacks on India, to do other kinds of illegal and unethical work like drug trafficking.”...