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IPFS News Link • DEA-Drug Enforcement Administration

Binance helps the DEA track down drug cartel

• Cryptopolitan


The cartel operated across the United States, Europe, Mexico, and Australia.

The cartel funneled up to $40 million of illicit proceeds through Binance.

An on-chain analysis helped identify the perpetrators.

Similar efforts led to the capture of the Lazarus group and Hydra cartels.

Binance, the world's largest crypto exchange, is a big target of drug cartels and money laundering. 

The anonymity provided by cryptocurrencies provides an almost perfect route for cartels to move funds globally. 

An on-chain analysis is, however, a helpful tool for tracking down these individuals.