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A man from California convicted of selling drugs on the dark web and laundering money through Bitcoin
A man from California has been sentenced to more than seven years in prison after using Bitcoin to launder profits from selling drugs (MDMA) on the dark web, in a case led by federal authorities under "Operation Crypto Runner," which highlighted the increasing use of cryptocurrencies in financial crimes.
29-year-old "John Khu" from San Francisco pleaded guilty to conspiracy to operate an unlicensed money transfer business and money laundering.
Investigations revealed that he imported drugs from Germany and sold them on dark web platforms in exchange for Bitcoin.
He then laundered the money through a complex network of accounts designed to hide its source, prompting federal authorities to pursue him.
Additionally, "Khu" faces separate charges in California related to the unlawful importation of prohibited substances.
"Operation Crypto Runner" began in November 2022, led by the U.S. Department of Justice and the Secret Service, targeting individuals and businesses using cryptocurrencies in illegal transactions.
The investigations resulted in numerous arrests, including 21 people in 2022 on charges including financial fraud and money laundering through cryptocurrencies.
#bitcoin #BTC
#MDMA
A man from California has been sentenced to more than seven years in prison after using Bitcoin to launder profits from selling drugs (MDMA) on the dark web, in a case led by federal authorities under "Operation Crypto Runner," which highlighted the increasing use of cryptocurrencies in financial crimes.
29-year-old "John Khu" from San Francisco pleaded guilty to conspiracy to operate an unlicensed money transfer business and money laundering.
Investigations revealed that he imported drugs from Germany and sold them on dark web platforms in exchange for Bitcoin.
He then laundered the money through a complex network of accounts designed to hide its source, prompting federal authorities to pursue him.
Additionally, "Khu" faces separate charges in California related to the unlawful importation of prohibited substances.
"Operation Crypto Runner" began in November 2022, led by the U.S. Department of Justice and the Secret Service, targeting individuals and businesses using cryptocurrencies in illegal transactions.
The investigations resulted in numerous arrests, including 21 people in 2022 on charges including financial fraud and money laundering through cryptocurrencies.
#bitcoin #BTC
#MDMA
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The Dark Secret: California Man Sentenced for Bitcoin Money Laundering from MDMA on the Dark Web
A man in San Francisco, California, was recently sentenced to 87 months in prison for using Bitcoin to launder money from MDMA drug transactions on the dark web. This arrest is part of Operation Crypto Runner, a multi-year investigation aimed at dismantling cryptocurrency money laundering networks in the U.S.
Bitcoin Money Laundering: A Sophisticated Model on the Dark Web
According to investigators in Texas, 29-year-old John Khuu imported #MDMA from Germany and sold it on various online black markets. Customers paid with Bitcoin, and Khuu then converted Bitcoin into cash through hundreds of transactions and multiple financial accounts to conceal the illegal origins of the funds.
Bitcoin Money Laundering: A Sophisticated Model on the Dark Web
According to investigators in Texas, 29-year-old John Khuu imported #MDMA from Germany and sold it on various online black markets. Customers paid with Bitcoin, and Khuu then converted Bitcoin into cash through hundreds of transactions and multiple financial accounts to conceal the illegal origins of the funds.
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