Foreign media: Money laundering organizations related to Mexican drug cartels are using USDT to transfer funds across borders

According to a recent report by Court Watch, USDT is being used by money laundering organizations linked to the importation of cocaine from Mexico and Colombia into the United States. The report states that drug traffickers have turned to cryptocurrencies, especially USDT, "as a way to quickly move money across borders in recent years." Court records from multiple cases state that criminal organizations, including the Mexican Sinaloa drug cartel, have used such assets for large-scale drug trafficking. It was previously reported that a Canadian Olympic snowboarder and his gang were suspected of using USDT to traffic cocaine, and the gang was also suspected of committing multiple murders. Law enforcement authorities said that cocaine was shipped from Colombia to the United States and Canada via Mexico. The situation is serious because the Mexican public generally knows that USDT comes from drug proceeds, so USDT is sold at a discount in Mexico. "The current trend is to buy USDT from Mexican groups at below market prices and then sell USDT on Casa de Cambios (currency exchanges) in Colombia, virtual currency exchanges, over-the-counter (OTC) or peer-to-peer (P2P) transactions," said a source. (Decrypt)