A global crackdown campaign named Operation RapTor has just been announced, shaking the underground world of black markets using cryptocurrency. With 270 arrests in 10 countries and $200 million in cash and digital assets seized, this is the largest crackdown ever under the J-CODE initiative of the U.S. Department of Justice (DOJ).
💊 Cryptocurrency and the underground drug market: The dangerous connection
The operation seized over 2 tons of drugs, including 144 kg of fentanyl, a potent narcotic at the center of the global opioid crisis. Additionally, law enforcement seized 180 firearms and hundreds of millions of dollars worth of cryptocurrency, primarily from darknet markets – where sellers use crypto to conceal their identities and launder money.
Countries participating in the campaign include: the USA, UK, Germany, France, Netherlands, Spain, Switzerland, Austria, South Korea, and Brazil.
👤 The masterminds fall into the net
Some notable suspects have been indicted:
Behrouz Parsarad, a citizen of #iran , runs Nemesis Market, a darknet platform specializing in selling opioids, using crypto wallets to hide profits. He has been indicted in Ohio and sanctioned by the U.S. Department of the Treasury.
Rui-Siang Lin, the administrator of Incognito Market, was once one of the largest 'drug markets' online. Lin pleaded guilty to trafficking in controlled substances, money laundering, and selling mislabeled drugs in December.
🌐 Crypto and its role in the transnational crime ecosystem
Operation RapTor reveals the true scale of a 'fentanyl economy on the blockchain'. According to Chainalysis, at least $5.5 million in stablecoins (like #USDT ) have been sent by cartel operatives to fentanyl precursor suppliers in China. Another survey by TRM Labs indicates that 97% of Chinese chemical suppliers accept crypto payments.
This reality shows that stablecoins are becoming the main infrastructure of international crime networks, especially those involved in fraud, money laundering, and drug trafficking.
📉 Telegram shuts down $27 billion black market
At the same time, #Telegram shut down the Haowang Guarantee group, a massive 'black market' network linked to $27 billion in illegal transactions in Asia. This group specialized in using USDT to launder money, providing fake documents and tools for industrial fraud – often targeting victims coerced into working in scam camps.
🧩 Crypto is a tool – not the cause
Although crypto is not the cause of crime, Operation RapTor shows how criminal organizations are exploiting blockchain and stablecoins to expand their operations globally. The event is also a strong reminder for both investors and developers that governance, compliance, and technology oversight are vital.
📌 Lessons for the crypto market and users
Be cautious with decentralized or completely anonymous platforms – these are ideal environments for tech criminals to exploit.
Crypto platforms and projects need to enhance transparency, cooperate with authorities, and avoid becoming targets for investigations or shutdowns.
Users need to be vigilant when engaging in P2P transactions or through private groups – risks come not only from scams but also from legal issues.
🔺 Risk warning: The crypto market is a new and volatile space. While it presents many opportunities, it is also a target for global criminal organizations. Users and investors should enhance their knowledge, be wary of anonymous platforms, and always comply with local laws. Crypto is not for everyone – invest responsibly.
