Man Sentenced for Crypto-Funded Dark Web Fentanyl Trade

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As a crypto investor and someone who closely follows news related to the use of cryptocurrencies in illegal activities, I find the recent sentencing of Jarek William Hahn and Banmeet Singh to be a sobering reminder of the potential dangers and negative consequences of using digital currencies for illicit purposes.

In December 2023, Jarek William Hahn, a 30-year-old resident of Helena, admitted his guilt for attempting to sell fentanyl on the black market via the dark web. As a result, he was ordered to serve 15 months behind bars and an additional three years under supervised release.

Based on the Justice Department’s findings, Hahn used ingenious methods to access hidden, encrypted marketplaces on the dark web. He paid for these transactions using cryptocurrencies and had the purchases shipped via regular mail. During a search of his residence, investigators discovered 64 pills suspected to be fentanyl.

In collaboration with various law enforcement agencies such as the Missouri River Drug Task Force, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the U.S. Postal Inspection Service, the FBI carried out the investigation.

Banmeet Singh was additionally charged for establishing a strong illegal drug trafficking operation in Haldwani, India, which ran from 2012 to 2017. The dark web marketplaces, such as Silk Road, AlphaBay, and Hansa, acted as covers for Singh’s enterprise, funding its activities and enabling the importation and sale of controlled substances, primarily in the United States.

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2024-05-17 02:45