US Department of Justice Sanctions Five People and a Bitcoin Address Linked to the Sinaloa Cartel

A division of the US Department of the Treasury known as the Office of Foreign Assets Control (OFAC) Announced which has taken action against five people. The individuals in question include citizens of Guatemala and the People’s Republic of China. OFAC decided to sanction all five, as well as two China-based companies, and even a Bitcoin wallet address that allegedly belongs to one of the individuals.

OFAC made a move because all of the sanctioned entities allegedly played some role in supplying drug cartels with various ingredients used for the creation of opioids.

Treasury OFAC just added another BTC address to its sanctions list, coinciding with a DOJ announcement of action against the Sinaloa Cartel. https://t.co/5Dtx1KC2cU

— @[email protected] (@nikhileshde) April 14, 2023

How did the operation work and who was involved?

The Bureau revealed the names of the sanctioned individuals and companies, including Yao Huatao, Wu Yonghao, Wu Yaqin, Wang Hongfei, and Ana Gabriela Rubio Zea. The two Chinese companies that were also sanctioned are Suzhuo Xiaoli Pharmatech Co., Ltd. and Wuhan Shuokang Biological Technology Co., Ltd.

According to the announcement, Yao Huatao, from China and owner of the Wuhan Shuokang Biological Technology Company, was overseeing the sale of fentanyl precursors. Furthermore, he says that Wu Yaqin and Wu Yonghao were working as sales representatives for the illicit operation.

OFAC further asserts that a broker from Guatemala, Ana Gabriela Rubio Zea, was responsible for purchasing the precursors to the Mexico-based drug cartels. Finally, Suzhuo Xiaoli Pharmatech Company was commissioned to ship the precursors to Mexico. Unfortunately, the deal also involved the use of cryptocurrencies, which is damaging the reputation of the asset class that is pushing hard for global acceptance. According to OFAC, the fifth sanctioned person, Wang Hongfei, was the owner of a crypto wallet and used it to receive Bitcoin payments on behalf of the Chinese company.

Criminals have been misusing cryptocurrency in their illicit operations for over a decade, even before cryptocurrency became a global phenomenon. Since the wallets are so easy to set up, criminals have been using Bitcoin and other assets to make payments and receive funds anonymously.

The war on drugs continues

The Office of Foreign Assets Control charged these five individuals and two companies with supplying precursor chemicals used in the production of fentanyl to drug cartels. These and similar China-based companies have been identified as a major source of precursors used to make drugs. Others would then smuggle the drugs into the US and sell them on American streets.

Attorney General Merrick Garland confirms that these sanctions are tied to the DOJ’s ongoing effort to crack down on fentanyl trafficking.

— @[email protected] (@nikhileshde) April 14, 2023

With the opioid epidemic currently plaguing the US, the country has made it a priority to stop the flow of drugs into the US. One of the most efficient ways to do this is to prevent the flow of precursors into Mexico. The country has considered it necessary, since the Center for Disease Control has reported that 67% (71,941) of the total overdose deaths in the country (107,375) in the 12-month period ending January 2022 were caused by fentanyl and similar synthetic opioids.

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