A Californian man was charged by the Department of Justice (DOJ) on Friday for allegedly trying to use cryptocurrency to launder money from drug sales.
John Khuu is accused of selling counterfeit prescription medications and other narcotics on dark web markets, mostly for bitcoin. According to the indictment, Khuu swapped the cryptocurrency for dollars through hundreds of transactions, laundering more than $5,350,000.
In addition to the additional money laundering allegations brought against Khuu in the Eastern District of Texas, he is now charged with illegally importing a restricted drug in the Northern District of California. Khuu was detained by authorities in August.
Along with the continued increase in crypto crime, the DOJ also did a report focusing on the importance of a coordinated government response in combating crypto crime and national security risks. related to cryptocurrencies. In addition, the DOJ announced the establishment of the Digital Asset Coordinator (DAC) Network.
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