Cambodia Seizes $7M in Sinaloa-Linked Crypto as US-Cambodian Operation Dismantles Money-Laundering Network

Cambodian authorities have seized over $7 million in cryptocurrency as part of a joint operation with US law enforcement to dismantle a money-laundering network linked to Mexico's Sinaloa Cartel.

The operation, which included raids on four locations in Phnom Penh and Kandal province between August 1 and 5, resulted in the arrest of six Vietnamese nationals and the confiscation of more than 200kg of illegal drugs and a tonne of precursor chemicals.

General Meas Vyrith, Secretary-General of the National Authority for Combating Drugs (NACD), said authorities are working closely with foreign anti-drug officials to identify and dismantle the network. He stated that an investigation exposed a scheme using cryptocurrency to launder proceeds connected to drug trafficking.

The US Embassy in Phnom Penh confirmed the operation, describing it as the result of cooperation between Cambodian authorities and the DEA. According to the embassy, joint work between DEA offices in Phnom Penh and New Jersey helped uncover the network.