A joint operation between Cambodian and US anti-drug agencies dismantled a cryptocurrency money laundering network allegedly run on behalf of Mexico’s Sinaloa Cartel. Raids conducted from August 1 to 5 across four locations in Phnom Penh and neighboring Kandal province seized $7 million in crypto assets and over 200 kilograms of illegal drugs. Authorities also confiscated more than one metric ton of precursor chemicals and arrested at least six Vietnamese nationals. The network used cryptocurrency, particularly USDT on the Tron network, to conceal proceeds from drug trafficking. The Sinaloa Cartel, sanctioned by the United States since 2023 and designated a foreign terrorist organization by the Trump administration, is the subject of international cross-border cooperation involving the US Drug Enforcement Administration.
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