Colombia Arrests Eight in Crypto Drug Money Laundering Case

TLDR Colombian authorities arrested eight people accused of laundering drug cartel money with cryptocurrency, working with U.S. intelligence agencies. Raids took place in four locations: Cajicá, Maicao, Barranquilla, and Bogotá. A Puerto Rico federal court accuses a group led by “Gallo” of using crypto tokens and smurfing to hide drug funds. Nassim Orfale Vasquez, indicted in New York, allegedly processed over $42 million in suspicious crypto transactions since 2018. All suspects face extradition procedures to the United States under Colombian law. Colombian authorities have arrested eight people accused of helping drug cartels launder money through cryptocurrency.