US Accuses Chinese Companies of Selling Drugs for Cryptocurrency
Date: 2023-10-06 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, IN WORLD
Targeted Opposition to Cybercrime
Inside their walls, U.S. lawyers and law enforcement agencies have launched an ambitious operation aimed at curbing the distribution of dangerous narcotics through cryptocurrency transactions. The news of filing criminal lawsuits against eight Chinese companies and their 14 employees immediately drew the attention of the public.
Digital Assets as Criminal Tools
Understanding the essence of the allegations, it was revealed that these companies were allegedly involved in the production and distribution of synthetic narcotics such as fentanyl and methamphetamine, as well as chemical precursors. The intervention of the authorities is driven by a serious threat to the health and lives of Americans posed by the activities of these organizations.
Secrecy of Operations Through Cryptocurrencies
One noticeable aspect of this situation is the use of cryptocurrencies by companies to carry out transactions. This method serves as a means to conceal identity, location, and fund movements, posing a significant challenge to law enforcement agencies.
Global-Scale Operation
The investigation involved the collaborative efforts of many government structures, including the Drug Enforcement Administration and the Financial Crimes Enforcement Network of the U.S. Department of the Treasury. This indicates the magnitude of the operation and the readiness to counter cybercrime on a global scale.
Fentanyl: Leading Player in Global Supplies
Authorities have discovered that Mexican cartels, namely Sinaloa and Jalisco Nueva Generación, are the primary suppliers of fentanyl in the United States. However, derivatives for the production of these dangerous substances are often ordered from China, underscoring the global nature of this problem.
Halting the Flow of Cryptocurrency Funds
Additionally, the Office of Foreign Assets Control of the U.S. Department of the Treasury has decided to include 28 individuals and entities associated with these criminal activities in sanction lists. This is a step toward restricting the flow of cryptocurrency funds used for such operations.
Overall, this investigation highlights serious issues related to cybercrime and underscores the importance of international cooperation in combating this threat.
