The current value of Ethereum in the market today is $1,612.71 USD with a trading volume of $3,789,219,174 USD in the last 24 hours.

Ethereum has experienced a 1.58% increase during this period and is currently ranked #2 according to CoinMarketCap with a live market cap of $193,902,295,175 USD. The circulating supply of ETH coins is 120,233,868 and the maximum supply is not available.

The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department has imposed sanctions on an Ethereum wallet that was utilized by the Sinaloa Cartel for laundering money earned from fentanyl sales in the United States.

Mario Alberto Jimenez Castro, who is accused of being involved in money laundering activities for the Los Chapitos faction of the cartel, allegedly oversaw the use of cryptocurrency and wire transfers to pay the cartel’s leaders in Mexico, according to OFAC.

U.S. Treasury Cracks Down on Fentanyl Distribution by Targeting Sinaloa Cartel Member’s Ethereum Wallet

On Tuesday, OFAC announced the sanction of ten individuals, some of whom are associated with the Sinaloa Cartel and are fugitives, for their involvement in the distribution of illegal drugs globally. Along with individuals,

OFAC also identified and designated the Ethereum wallet with the code “0x9c2” used by Jimenez Castro. According to OFAC, Jimenez Castro instructed couriers in the United States to collect cash and transfer it to virtual currency wallets for direct payment to the Chapitos and for reinvesting in fentanyl production.

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The Sinaloa Cartel is a dominant drug trafficking organization in Mexico and is a significant supplier of fentanyl in the United States. OFAC’s sanctions target members of Los Chapitos, a faction managed by the sons of incarcerated Sinaloa leader Joaquin “El Chapo” Guzman.

The sanctions act as a demonstration of the Biden Administration’s firm stance on disrupting the flow of illicit fentanyl and its precursors into American communities to save lives.

The Ethereum wallet’s U.S. assets are frozen, and Americans are prohibited from conducting transactions with it. OFAC has pledged to continue targeting foreign drug traffickers who contribute to the opioid epidemic through sanctions.


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