The wallet is tied to a money laundering operation that transfers proceeds from fentanyl sales to Sinaloa cartel leaders in Mexico, officials said.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned an Ethereum wallet tied to Jimenez Castro, a Mexican male with ties to the Sinaloa cartel.
Castro is one of 10 names listed on OFAC’s sanctions list as a part of a counter narcotics operation,
The wallet in question was first active in January or this year and received around $740,000 in deposits to Binance in a two month period, data from Arkham shows.
A U.S. Treasury press release states that Jimenez Castro “operates money laundering organization that uses virtual currency and wire transfers, among other methods, to transfer proceeds from illicit fentanyl sales in the United States to Sinaloa Cartel leaders in Mexico.”