Illicit activity in the cryptocurrency ecosystem appears to have reduced, with the total illicit funds shrinking by 9% in 2023 compared to 2022, even though criminals still handled over $34 billion worth of cryptocurrencies, Blockchain analytics firm TRM Labs has found.
Chinese Firms Used Crypto Payments to Run Fentanyl Network, U.S. Claims in Charges
The U.S. Department of Justice (DOJ) targeted several Chinese businesses and their employees Tuesday in the latest round of charges tied to production and trafficking of fentanyl – a network that depended on cryptocurrency payments, according to authorities.
Ethereum Wallet Tied to Sinaloa Cartel Sanctioned by US Government
The United States’ Office of Foreign Assets Control (OFAC) has sanctioned an Ethereum wallet tied to a Mexican man from Sinaloa named Jimenez Castro.
U.S. Sen. Elizabeth Warren Calls for Shutdown of Crypto Funding for Fentanyl
U.S. Sen. Elizabeth Warren (D-Mass.) cited the rampant use of cryptocurrency in the Chinese fentanyl trade during a Wednesday Senate hearing, arguing for legislation to help break that pipeline.