Venezuelan president might actually be hiding drug proceeds in crypto, according to the DOJ

Venezuelan President Nicolas Maduro might have hidden illegal drug proceeds in crypto, according to the US department of Justice.

The charges brought against Maduro and 14 other officials in the Venezuelan government are principally focused at halting a supposed multibillion-dollar cocaine dealing ring.

The DOJ claims that this ring has unleashed ruin on the American people for more than 20 years.

Venezuela's crypto administrator, Joselit Ramirez Camacho, 33, was likewise prosecuted in the Southern District of New York.

The charges do not indicate which digital currency is being utilized for these crminal activities.

It should however be noted that, Venezuela eminently owns a cryptocurrency backed by oil known as Petro.

That venture is managed by Venezuela's National Superintendent for Cryptoassets and Related Activities, Sunacrip, which is headed by Joselit Ramirez Camacho.