OFAC Sanctions Two Indians in Crypto-Linked Fentanyl Operation

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two Indian nationals involved in a fentanyl operation where they used a cryptocurrency wallet to receive payments.

According to the official announcement, the OFAC has sanctioned individuals, Sadiq Abbas Habib Sayyed and Khizar Mohammad Iqbal Shaikh, along with an India-based online pharmacy, KS International Traders (KS Pharmacy). The network sold counterfeit pills to U.S. consumers.

In the operation, the pills were sold as legitimate medications like Oxycodone, Adderall, and Xanax. It actually carried fentanyl, methamphetamine, and other illicit drugs. Most American consumers were not aware that they were getting fake drugs.

As part of its enforcement action, OFAC also sanctioned a cryptocurrency wallet linked to Sayyed, demonstrating how the criminal network used digital assets to launder money and manage payments for drug trafficking.

Sayyed and Shaikh worked together with traffickers in the Dominican Republic and the United States. They used encrypted messaging applications and the crypto wallet to manage orders and take payments. Sayyed used his wallet directly for criminal activity, while Shaikh operated KS Pharmacy, which sold the fentanyl-contaminated pills to American buyers.

OFAC said sanctions are meant to disrupt criminal networks, stop illicit drugs from reaching U.S. communities, and prevent the use of digital tools like crypto in illegal operations, not just punish offenders.

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