The Office of Foreign Assets Control (OFAC) of the US Treasury has sanctioned an Ethereum wallet attributed to Jimenez Castro, reportedly a purported facilitator of money laundering activities for the notorious Sinaloa cartel organization. This initiative was designed to offset the criminal presence among crypto-related operations. The updated OFAC sanctions list revealed the Ethereum wallet had accepted payments amounting to approximately $740,000, exclusively processed by Binance starting in January 2022.
As claimed, Castro handles a system where American profits from fentanyl sales and repatriated to its Mexican them leaders via cryptocurrency and bank transfers. His punishment is included in the 10 new persons listed by nationwide counter-narcotics endeavor targeted at Sinaloa cartel prevalence. This trading cartels is seen as one of the most violent and deepest drug traffickers, responsible for large quantities of lethal fentanyl flowing into the USA.
The blocking of any crypto-laundering habits looks like a mode that can make a decisive difference. However, cartels are also known for having a strong technological capacity and dispersive storing systems move funds in such way that origins are obscure. The OFAC campaign attests cryptocurrency can be a tool for criminating but is far easier to be registered and sojustly prevented; so, without leak will enough space to consume blockchain for legitimate contexts while imposing restrictions for negative types of deeds.
