Danvers Man Sentenced to Six Years for Laundering Over $1 Million in Bitcoin for Scammers and Drug Dealers

A Danvers man has been sentenced to six years in federal prison for laundering over $1 million through an unlicensed Bitcoin exchange service. The funds were laundered for scammers and drug dealers, according to court reports. This case highlights ongoing issues with cryptocurrency being used for illicit activities. Separately, a man involved in a sports betting Ponzi scheme in Ohio was sentenced after stealing $8.5 million from victims, underscoring continued enforcement actions against financial fraud.