US Treasury Sanctions Cartel Ties to Fentanyl Trade through Cryptocurrency

The U.S. Treasury Department has announced a new round of sanctions targeting individuals, entities, and Ethereum addresses linked to the Sinaloa Cartel's fentanyl trafficking and crypto-based financial activity.

The action targets two networks accused of helping move drug proceeds and support the cartel's supply chain. The Treasury said some members of the networks converted cash from drug sales into cryptocurrency before transferring funds connected to the Sinaloa Cartel.

Among those targeted are Armando de Jesus Ojeda Aviles, who allegedly helped convert cash into cryptocurrency for later transfer to the cartel, and his associate, Jesus Alonso Aispuro Felix. Five of the six Ethereum addresses listed had been inactive for years, while one address showed recent activity in April.

The sanctions freeze any U.S.-based assets belonging to the listed individuals and entities, and U.S. persons are barred from doing business with those named on OFAC's Specially Designated Nationals list.