Hacking News
Colombian Broker Sentenced for Tether Laundering
Leonardo de Jesus Zuluaga Duque, a Colombian crypto broker with a supervisory role, was sentenced to 160 months in prison in a New York federal case for laundering approximately $14.5 million through Tether from drug trafficking between May and November 2023. The U.S. Department of Justice (DOJ) announced the sentence on October 21. The broker and others used an unlicensed money-transmission business to convert Tether into US dollars, which was then distributed to Colombian companies. The case highlights the risks of using stablecoins like Tether for illicit activities and the importance of regulatory oversight.