US Drug Enforcement Agency seizes about $1.8 million worth of cryptocurrencies linked to drug dealers in Binance accounts

A U.S. court in Eastern Michigan granted a request by U.S. Drug Enforcement Administration (DEA) officials to seize nearly $1.8 million in cryptocurrency from six Binance accounts linked to drug dealers, CoinDesk reported. The cash couriers deposited drug proceeds, used Binance to buy USDT as well as bitcoin, and then sent the cryptocurrencies to designated addresses controlled by a criminal organization in Mexico, court documents and people familiar with the matter said. According to people familiar with the matter, Binance has a close relationship with the DEA, and the two parties cooperated to terminate this cash transfer channel.