Finance News
By Julie Binoche
1 / 15
How the Operation Worked. Law enforcement believes the crypto angle was deliberate.
2 / 15
International Investigation. Deputy Attorney General Lisa Monaco stressed international cooperation on March 25.
3 / 15
Exchange Scrutiny Intensifies. Exchanges and platforms that facilitated these transactions now face intense scrutiny.
4 / 15
Federal prosecutors dropped charges Thursday. Three Chinese nationals face indictments for running a massive fentanyl operation using cryptocurrency to hide their tracks and…
5 / 15
The Justice Department said the defendants built a global network that moved fentanyl precursor chemicals across borders.
6 / 15
Law enforcement believes the crypto angle was deliberate. They wanted to stay invisible to financial regulators who monitor regular bank transfers.
7 / 15
Customers sent Bitcoin and other digital currencies straight to wallets the defendants managed, according to court documents.
8 / 15
And the DOJ said these moves violated both American and international financial rules. The network processed huge volumes of illegal chemicals that fed America's fentanyl crisis,…
9 / 15
The Treasury Department identified all three defendants as part of a bigger crackdown on dirty money networks.
10 / 15
Deputy Attorney General Lisa Monaco stressed international cooperation on March 25. She said partnerships with foreign governments were crucial for tracing digital trails left by…
11 / 15
Interpol helped with the investigation too. An unnamed Interpol official confirmed their cybercrime unit played a big role in mapping the network's financial flows.
12 / 15
Not really surprising given the scope. Market participants tracking Nasdaq Teams Up with Talos to will find additional context here.
13 / 15
The Drug Enforcement Administration reported more fentanyl seizures this past year. DEA Administrator Anne Milgram said cracking down on cryptocurrency-enabled trafficking became…
14 / 15
The charges align with recent moves by the Financial Crimes Enforcement Network to watch cryptocurrency transactions linked to narcotics more closely.
15 / 15
The U.S. Marshals Service got tasked with managing confiscated cryptocurrency assets tied to the defendants.
The Currency Analytics
Want the full story?