US Treasury Imposes Sanctions on Several Chinese Crypto Wallets Linked to Illegal Drug Dealers

The US Treasury Department imposed sanctions against several Chinese cryptocurrency wallets allegedly linked to malicious actors engaged in illegal drug trade activities. The US Treasury Department’s Office of Foreign Assets Control (OFAC) named seven wallets in the action and warned that doing business with them could result in penalties. According to the statement, the targeted wallets provided “financial services” to networks of drug dealers on the dark web related to fentanyl and other opioids. The wallets and their associated networks also reportedly ran money laundering and fraud operations connected to the illegal drug trade. The US Treasury Department also warned that the networks of cryptocurrency wallets are connected to transnational criminal organizations based in North Korea, Iran, and Russia. In the past, OFAC has designated persons and entities linked with transnational criminal organizations.

READ ALSO

Related Posts

Next Post

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.