Feds ran a bitcoin-laundering sting for over a year

More than 40 alleged dark-web drug dealers have been arrested as part of a sweeping federal effort described by the Department of Justice as "the first nationwide undercover operation targeting dark net vendors." The core of the operation was an online money-laundering business seized by agents from Homeland Security Investigations and operated as a sting for over a year. By offering cash for bitcoin, HSI agents were able to identify specific drug dealers, ultimately tracing more than $20 million in drug-linked cryptocurrency transactions.

"For the past year, undercover agents have been providing money-laundering services to these dark net vendors, specifically those involved in narcotics trafficking," said HSI Special Agent in Charge...

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