News
US authorities confiscated massive drug quantities and dismantled meth labs nationwide while pursuing crypto-linked cartel operatives.
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Drugs News
Drugs are any substance that is somehow consumed by an individual with a temporary effect on their physiological and often psychological state of their organism. Drugs are often used for medical purposes, such as anesthesia or as cures for psychological diseases. Still, most drugs have strong side effects with addiction being the most important one. As governmental drug control is often very strict, drug consumers try to find other means of purchasing the drug they want. Internet dark markets offer them the opportunity to buy drugs with Bitcoin or other cryptocurrencies. The Bitcoin drug market is growing over time as more people get used to new payment technologies. Still, blockchain may be also used for developing legal drug purchasing systems. Blockchain technology may help with eliminating counterfeit drugs by recording all the information about licensed products.
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Canada’s FINTRAC updates AML strategies, emphasizing cryptocurrency’s role in combating synthetic opioid-related money laundering.
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A waitress at a Hong Kong bar allegedly spotted the DWF Labs partner drugging the victim’s drink while attending the bathroom — an accusation she claims is backed by CCTV footage.
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India’s NCB forms a special task force and initiates digital forensics training to tackle the growing misuse of cryptocurrencies in drug trafficking.
6113 - Market Analysis
Reasons for BTC's weakness include Mt. Gox coin movements, regulatory actions, and the U.S. Senate's anti-crypto lobby.
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Senators Elizabeth Warren and William Cassidy say crypto has played an “increasingly prominent role” in the fentanyl industry.
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The FBI claimed it found Incognito Market’s alleged owner, Rui-Siang Lin, by tracking crypto from the dark web drug market to a crypto exchange account allegedly in his name.
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According to Deputy Treasury Secretary Wally Adeyemo, the sanctioned wallets “received millions of USD funds over hundreds of deposits” used for illicit drugs.
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An ETH wallet tied to Mexican national Mario Alberto Jimenez Castro was allegedly used for illicit fentanyl sales in the United States.
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The United States Drug Enforcement Administration has yet to find those responsible for the attack but has enlisted the help of the FBI.
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The agencies have worked together for years, but now their joint efforts are official as they plan to ramp up activity.
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“The number of crypto transactions associated with Chinese fentanyl brokers increased by 450% just last year alone," said the Massachusetts senator, citing an Elliptic report.
6656 - Analysis
It’s a long road to federal legalization, but opposition to psychedelics is waning at the state level and Capitol Hill.
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Uzbekistan's law enforcers were educated on blockchain analysis topics and methods for seizing crypto.
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Cannabis users in the state may soon be able to pay for their green without cash.
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