U.S. Treasury Targets Alleged Cocaine Network Using Crypto, OFAC Lists Wallets

The U.S. Treasury Department sanctioned people linked to an alleged cocaine trafficking network that authorities say used cryptocurrency across multiple blockchains to launder millions of dollars. OFAC added the related wallet addresses and identifiers to its Specially Designated Nationals list, barring U.S. persons and entities from transacting with them. The case also involves a federal indictment unsealed by the FBI charging 10 individuals tied to the operation.