OFAC sanctioned six individuals and two companies for involvement in a cryptocurrency money-laundering scheme tied to the Sinaloa Cartel and fentanyl flows into the United States. The network allegedly collected bulk cash from illicit drug sales, processed the funds, converted them into cryptocurrency, and sent the crypto to the cartel in Mexico. Venezuelan authorities dismantled a large cryptocurrency mining operation using 4,000 ASIC machines, estimated to consume up to 10,000 MW, and reported severe damage to energy infrastructure in Aragua. Bradesco in Brazil entered the crypto market by leveraging its scale to provide comprehensive crypto custody services.
"On Wednesday, the U.S. government Office of Foreign Assets Control (OFAC) sanctioned six individuals and two companies due to their involvement in a money laundering scheme for the Sinaloa cartel, one of the largest drug-trafficking organizations linked to the fentanyl flows entering the country. Armando de Jesus Ojeda Aviles is the head of this network, which also includes Jesus Alonso Aispuro Felix, Rodrigo Alarcon Palomares, Alfredo Orozco Romero, Amalia Margarita Romero Moreno, and Liliana Orozco Romero. Security company Grupo Especial Mamba Negra and Gorditas Chiwas, a Mexican restaurant based in Chihuahua, were also designated."
"The designated are accused of organizing a scheme to collect bulk cash deliveries, a product of the sales of illicit drugs such as tentanyl, methamphetamine, and cocaine, including processing them and converting them into cryptocurrency to be sent to the Sinaloa Cartel in Mexico. The scheme links cash-based drug proceeds to crypto conversion and cross-border transfer, enabling laundering through cryptocurrency channels."
"Venezuelan authorities found and dismantled a cryptocurrency megafarm with 4,000 ASICs, estimated to consume up to 10,000 MW, causing severe impact and structural damage to the energy infrastructure in the state of Aragua. The operation was described as a large-scale mining setup that strained power systems and contributed to infrastructure harm."
"Entering the crypto market, Bradesco will leverage its size to offer comprehensive custody options. Bradesco’s move into crypto custody positions a major Brazilian financial institution to provide custody services at scale, expanding institutional access to crypto asset storage and related custody capabilities."
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]