{"id":3255,"date":"2024-11-25T15:35:21","date_gmt":"2024-11-25T15:35:21","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3255"},"modified":"2024-11-25T15:35:21","modified_gmt":"2024-11-25T15:35:21","slug":"drug-cartels-use-tether-and-bitcoin-to-launder-millions-court-documents-reveal","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3255","title":{"rendered":"Drug Cartels Use Tether And Bitcoin To Launder Millions, Court Documents Reveal"},"content":{"rendered":"<div>\n<p>Unsealed court documents highlight how <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41555467\/federal-probe-into-tether-examines-potential-sanctions-and-money-laundering-breaches-wsj\">drug cartels from Mexico and Colombia <\/a>are leveraging cryptocurrency, particularly <strong>Tether <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">USDT<\/a>) and <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>), to launder tens of millions of dollars.<\/p>\n<p><strong>What Happened: <\/strong>The documents shed light on how criminal organizations, including the <strong>Sinaloa <\/strong>cartel, have turned to stablecoins and blockchain technology to move wealth across borders, according to a <a href=\"https:\/\/www.404media.co\/tether-has-become-a-massive-money-laundering-tool-for-mexican-drug-traffickers-feds-say\/\">report<\/a> from <strong>404 Media<\/strong>.<\/p>\n<p>Benzinga has reached out to Tether CEO <strong>Paolo Ardoino<\/strong> for comments.<\/p>\n<p>One confidential source disclosed to investigators that cartels purchase USDT in Mexico at below-market rates, given its association with drug proceeds. <\/p>\n<p>&#8220;The current trend was to purchase USDT from Mexico-based groups at a cheaper rate than the market price and then sell the USDT in Colombia,&#8221; the source said. <\/p>\n<p>These transactions reportedly take place through currency exchanges, peer-to-peer networks and over-the-counter (OTC) trades.<\/p>\n<p>The court filings <a href=\"https:\/\/www.documentcloud.org\/documents\/25379143-tether-document-1?ref=404media.co\">revealed<\/a> substantial cryptocurrency activity linked to these cartels.<\/p>\n<p>A Binance account under investigation processed over $15 million between May 2020 and &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/42166673\/drug-cartels-use-tether-and-bitcoin-to-launder-millions-court-documents-reveal\" alt=\"Drug\" cartels use tether and bitcoin to launder millions court documents reveal>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Unsealed court documents highlight how drug cartels from Mexico and Colombia are leveraging cryptocurrency, particularly Tether (CRYPTO: USDT) and Bitcoin (CRYPTO: BTC), to launder tens of millions of dollars. What Happened: The documents shed light on how criminal organizations, including the Sinaloa cartel, have turned to stablecoins and blockchain technology to move wealth across borders, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3255","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3255"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3255\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}