Wedding’s arrest marks the culmination of a long-running investigation. He had been on the FBI’s Ten Most Wanted Fugitives list since 2025, with a substantial reward offered for information leading to his capture. The operation he allegedly oversaw was not only vast but also violent, spanning multiple countries.

Crypto’s Role in the Cocaine Empire

While the primary charges focus on drug trafficking and murder, U.S. authorities have underscored the role of cryptocurrency in facilitating these illegal activities. According to U.S. Treasury officials, Wedding’s organization utilized digital currencies as a key tool to finance operations and obscure the origins of their illicit wealth.

In November, the Treasury Department’s Office of Foreign Assets Control took action against Wedding and his network. They sanctioned him and associated entities, pointing to their use of crypto for laundering drug proceeds. The network’s activities were reportedly linked across several blockchains, including Bitcoin, Ethereum, Tron, Solana, and BNB Chain.

Details of the Operation

This crypto-enabled cocaine empire reportedly moved hundreds of kilograms of cocaine from Colombia through Mexico and Southern California, eventually reaching the United States and Canada. Authorities have detailed a transaction involving 17,300 USDT tied to a cocaine deal, highlighting the integration of stablecoins in their operations.

The Treasury sanctions further identified a dozen crypto addresses connected to Wedding and his associates. These moves signal what officials describe as a large-scale, multi-chain laundering operation consistent with the alleged trafficking efforts.

Legal Proceedings and Allegations

Alongside the drug trafficking charges, Wedding is accused of orchestrating the murder of a federal witness in Colombia in early 2025 and ordering retaliatory attacks linked to stolen drug shipments in Canada. The unsealed indictment from June 2024 charged him with operating a continuing criminal enterprise, alongside other serious offenses.

The case against Wedding not only highlights the evolving intersection of cryptocurrencies and criminal activities but also the challenges faced by law enforcement in tracking and prosecuting such complex networks.

The FBI arrests serve as a stark reminder of the potential misuse of digital currencies in facilitating illegal enterprises on a global scale.

Disclaimer: This article is for informational purposes only and is not intended as legal or financial advice.

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As per the latest report by the state-owned media house France 24 on Wednesday, several individuals suspected of participating in this heinous act have been apprehended, as shared by an insider close to the case. The number of arrests in crypto-related kidnappings has seen a significant rise in 2025, with a considerable proportion of these incidents happening in France.

This alarming trend has prompted cryptocurrency business owners to elevate their security protocols. Furthermore, it led to a crucial meeting spearheaded by the French Interior Minister Bruno Retailleau to discuss potential countermeasures.

The specifics regarding the number of arrests made on Tuesday remain uncertain as of France24’s source. Suspected individuals can be detained for up to 96 hours without any formal charges.

The victim, a father of an undisclosed cryptocurrency entrepreneur, was held hostage for several days at an undisclosed location. The kidnappers demanded a ransom of up to 7 million euros ($8 million). A police intervention on May 3 facilitated the man’s release, resulting in the arrest of five individuals.

In a related development, a man believed to be instrumental in the recent series of crypto-related kidnappings in France was detained in Morocco on June 4. Moreover, on May 26, French authorities apprehended over 12 individuals associated with high-profile crypto kidnapping cases in Paris.

There have been at least 29 physical crypto attacks this year alone, as per a list compiled by Jameson Lopp, co-founder of self-custodial firm Casa. The numbers are on track to outdo the 35 attacks in 2024 and 24 in 2023. However, the real count could be much higher due to underreporting arising from the fear of revictimization and a wide spectrum of assailants, from organized crime rings to friends and family, as per a study by the University of Cambridge.

At the 2025 Consensus crypto conference, Chainalysis CEO Jonathan Levin shared his thoughts on the rising crypto crimes, attributing it to the mistaken belief among criminals that cryptocurrency transactions are untraceable. Kraken’s Chief Security Officer Nick Percoco pointed out the glaring lack of security consciousness among crypto users as another contributing factor.

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The illegal operation allegedly facilitated money laundering for criminal networks involved in drug trafficking and illegal immigration. According to a statement released by Europol on May 14, the criminals operated a secret unregulated money transfer system known as hawala, often receiving payment in cryptocurrency.

The arrests included 15 individuals in Spain, one in Austria, and one in Belgium. Law enforcement authorities also seized assets worth 4.5 million euros ($5 million), including cash, cryptocurrency, 18 vehicles, four shotguns and multiple electronic devices.

From the total seized, 183,000 euros ($205,000) was in the form of cryptocurrency. An additional 421,000 euros ($471,000) in cash was recovered from 77 bank accounts tied to the criminal organization. Spanish media outlets referred to the operation as a ‘crypto mafia bank’.

Among the seized assets were luxury items such as bags, watches, and even cigars valued at 876,000 euros ($980,000). The operation spanned multiple countries, with raids carried out across Spain, Austria, and Belgium in January 2025, involving over 250 officers.

Most of the arrested individuals, predominantly of Chinese and Syrian nationality, have already been incarcerated for involvement in crimes linked to the organization. The group targeted clients in China and the Arabic-speaking criminal underworld.

The criminal group attempted to mask its illicit activities by operating a money transfer business and even promoted these services on social media platforms. The investigation was spearheaded by a court in Almeria, Spain, which aided Europol in coordinating Spanish and Belgian authorities to dismantle the operation.

Blockchain analysis company, Chainalysis, estimates that illicit cryptocurrency transactions reached $51.3 billion in 2024, up by 11.3% from the previous year.

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