US and Cambodia Dismantle Crypto Laundering Network Tied to Sinaloa Cartel
US and Cambodian law enforcement agencies have successfully dismantled a cryptocurrency laundering network in Cambodia that was linked to Mexico's Sinaloa Cartel. The operation, carried out between August 1 and August 5, involved raids on four locations across Phnom Penh and Kandal province.
The US Embassy in Phnom Penh announced the joint effort with the US Drug Enforcement Administration (DEA) and Cambodian Anti-Drug Police. According to Meas Vyrith, secretary-general of Cambodia's National Authority for Combating Drugs, over $7 million in cryptocurrency linked to the cartel was confiscated.
The seized assets also included more than 200 kilograms of illegal drugs and over one metric ton of precursor chemicals. This operation highlights the global reach of organized crime syndicates like the Sinaloa Cartel, which operates in over 40 countries.