Cambodian and US authorities say they have dismantled a network funnelling millions through cryptocurrency on behalf of Mexico’s Sinaloa Cartel, in one of the most significant joint operations to date. Meas Vyrith, head of Cambodia’s National Authority for Combating Drugs, confirmed that about US$7 million in digital assets had been seized, alongside arrests, drug labs and storage facilities. Raids between 1–5 August in Phnom Penh and neighbouring Kandal province also uncovered more than 200 kilograms of narcotics and over a tonne of precursor chemicals. The US Embassy said DEA offices in Phnom Penh and New Jersey helped expose a local network laundering crypto for the cartel. The Sinaloa group, designated a “foreign terrorist organisation” by Washington, is notorious for producing fentanyl, the synthetic opioid blamed for tens of thousands of deaths in the US each year. Cambodia has long been a transit hub for methamphetamine from the Golden Triangle, but in recent years has also become a base for Chinese‑led crime syndicates running scam centres. Authorities have stepped up crackdowns, closing compounds and arresting alleged kingpins. A July report by the UN Office on Drugs and Crime warned that Latin American cartels are now embedding themselves deeper in Southeast Asia, using the region not only for drug supply but also for finance and logistics. US prosecutors previously revealed that the Sinaloa Cartel laundered more than US$50 million through Chinese underground banking groups. The latest seizures underline how Cambodia’s criminal landscape is increasingly tied to global networks — and how cooperation with US agencies is becoming central to tackling both drug trafficking and financial crime. -2026-08-24
