Shocking Revelation: Binance Loses $1.8M To DEA Seizure in 2022!
Key Points:
- Six Binance accounts linked to drug traffickers had roughly $1.8 million in cryptocurrencies seized by federal agents.
- Binance and the DEA have a “very tight” working relationship. In order to calibrate Binance’s anti-money laundering measures and support DEA activities, DEA officers and BNB workers regularly meet to share intelligence.
- Carlos Fong Echavarria, a citizen of Mexico, entered a guilty plea in 2021 to allegations of drug trafficking and laundering almost $4.7 million in cryptocurrency.
Six Binance accounts linked to drug traffickers had roughly $1.8 million in cryptocurrencies seized by federal agents.
In May 2022, as part of an operation to sabotage a cash pipeline that was directing the proceeds of drug sales to Mexico via stablecoins, cryptocurrencies worth roughly $1.8 million in today’s value were seized. A U.S. Court in Eastern Michigan granted a civil forfeiture request for those cryptocurrencies.
According to court documents and a source with knowledge of the situation, the cash couriers would deposit money from drug trafficking, use BNB to buy bitcoin (BTC) and USDT, and then send the cryptocurrency to a specific address controlled by a criminal group in Mexico.
The criminal complaint cited six Binance accounts
According to someone who collaborates with law enforcement on these issues, BNB and the DEA have a “very tight” working relationship. In order to calibrate Binance’s anti-money laundering measures and support DEA activities, DEA officers and Binance workers regularly meet to share intelligence.
This is a continuation of Mexican cartels’ ongoing campaign to use BNB as a money-laundering conduit.
Mexican gangs have reportedly been utilizing BNB since the beginning of 2020. Carlos Fong Echavarria, a citizen of Mexico, entered a guilty plea in 2021 to allegations of drug trafficking and laundering almost $4.7 million in cryptocurrency.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
Author
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Shocking Revelation: Binance Loses $1.8M To DEA Seizure in 2022!
Key Points:
- Six Binance accounts linked to drug traffickers had roughly $1.8 million in cryptocurrencies seized by federal agents.
- Binance and the DEA have a “very tight” working relationship. In order to calibrate Binance’s anti-money laundering measures and support DEA activities, DEA officers and BNB workers regularly meet to share intelligence.
- Carlos Fong Echavarria, a citizen of Mexico, entered a guilty plea in 2021 to allegations of drug trafficking and laundering almost $4.7 million in cryptocurrency.
Six Binance accounts linked to drug traffickers had roughly $1.8 million in cryptocurrencies seized by federal agents.
In May 2022, as part of an operation to sabotage a cash pipeline that was directing the proceeds of drug sales to Mexico via stablecoins, cryptocurrencies worth roughly $1.8 million in today’s value were seized. A U.S. Court in Eastern Michigan granted a civil forfeiture request for those cryptocurrencies.
According to court documents and a source with knowledge of the situation, the cash couriers would deposit money from drug trafficking, use BNB to buy bitcoin (BTC) and USDT, and then send the cryptocurrency to a specific address controlled by a criminal group in Mexico.
The criminal complaint cited six Binance accounts
According to someone who collaborates with law enforcement on these issues, BNB and the DEA have a “very tight” working relationship. In order to calibrate Binance’s anti-money laundering measures and support DEA activities, DEA officers and Binance workers regularly meet to share intelligence.
This is a continuation of Mexican cartels’ ongoing campaign to use BNB as a money-laundering conduit.
Mexican gangs have reportedly been utilizing BNB since the beginning of 2020. Carlos Fong Echavarria, a citizen of Mexico, entered a guilty plea in 2021 to allegations of drug trafficking and laundering almost $4.7 million in cryptocurrency.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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