U.S. federal agents conducted an operation that resulted in the seizure of more than $10 million in cryptocurrency linked to the Sinaloa cartel. This underscores the growing use of digital assets in illicit operations.
Seizure of Cryptocurrency in Ongoing Investigation
According to the Justice Department, the seizure was part of a joint operation by the FBI and DEA focused on the financial infrastructure involved in trafficking fentanyl and synthetic opioids into the U.S.
Cryptocurrency in Cartel Crimes
It has been established that cartels, such as Sinaloa, utilize cryptocurrencies like Bitcoin, Monero, Ether, and Tether to obscure financial trails, fund raw material purchases, and subsequently offload profits with minimal friction.
Wider Campaign Against Synthetic Opioids
The seizure is part of a broader federal campaign against fentanyl, which authorities describe as the deadliest drug threat in the country. Since the beginning of the year, over 44 million fentanyl pills and 4,500 pounds of raw fentanyl have been seized.
The seizure of cryptocurrency indicates the growing use of digital assets in criminal activities, raising concerns among authorities. An active investigation is underway regarding this case.
