U.S. Treasury Sanctions Sinaloa Cartel, Adds 6 Ethereum Wallets to OFAC List on May 20

The U.S. Treasury sanctioned more than a dozen individuals and entities linked to the Sinaloa Cartel on May 20, adding six Ethereum wallet addresses to the Office of Foreign Assets Control (OFAC) sanctions list. According to Treasury, the action targets networks accused of converting cash from fentanyl sales into cryptocurrency for transfer to cartel leadership in Mexico.

Armando de Jesus Ojeda Aviles, identified as head of the money laundering network, is affiliated with the Los Chapitos faction of the Sinaloa Cartel. The sanctions followed coordinated enforcement by the Homeland Security Task Force and Drug Enforcement Administration. A prior Department of Justice report indicated the DEA had seized more than $10 million in cryptocurrency assets linked to the cartel.