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DEA Seizes $19 Million Drug Funds in Undercover Operation, Some Converted to Cryptocurrency

Summary: According to reports, the US Drug Enforcement Administration (DEA) successfully infiltrated and controlled the money laundering network of a Colombian drug trafficking group in an undercover operation lasting over a decade, seizing a total of approximately $19 million, with some funds being transferred to cryptocurrency accounts. The operation ultimately led to the prosecution of two ...

According to reports, the US Drug Enforcement Administration (DEA) successfully infiltrated and controlled the money laundering network of a Colombian drug trafficking group in an undercover operation lasting over a decade, seizing a total of approximately $19 million, with some funds being transferred to cryptocurrency accounts. The operation ultimately led to the prosecution of two individuals involved in heroin trafficking.

Documents reveal that in 2018, DEA undercover agents transferred $150,000 to a Coinbase account and exchanged it for over 13 bitcoins, which have now appreciated in value to over $1.5 million. The Department of Justice is currently seeking to recover the related funds. (Forbes)

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