politics
Cambodia’s scam-center underworld linked to Mexico's Sinaloa Cartel and its cryptocurrency millions
Cambodian and U.S. anti-drug agencies have uncovered a network that authorities say uses cryptocurrency to launder money for Mexico’s notorious Sinaloa Cartel, officials from both countries said Friday.
TL;DR
- Cambodian and U.S. anti-drug agencies exposed a cryptocurrency money laundering network linked to the Sinaloa Cartel.
- The operation led to arrests and seizures of illegal drugs, precursor chemicals, and assets in Cambodia.
- U.S. officials previously seized approximately $7 million in cryptocurrency connected to the cartel in New Jersey.
- The Sinaloa Cartel is a significant producer of fentanyl and uses Southeast Asia as a supply, financial, and logistics hub.
- Cambodia has also been a hub for Chinese-led organized crime, particularly scam centers.