Ontario Superior Court Justice Peter Bawden said it’s likely Sokolovski has access to “substantial, undisclosed” cryptocurrency, making him a “considerable” flight risk. U.S. authorities accuse Sokolovski of acting as the “de facto bank” and bookkeeper for the alleged drug ring, laundering hundreds of millions of dollars while handling cash, cryptocurrency and wire transfer payments for the group. Clark said his cryptocurrency wallet had been blacklisted and “directed Sokolovski to change everyone’s wallets as soon as possible,” according to the affidavit from RCMP Cpl. Geneviève Laurin.
The affidavit details ongoing enforcement actions tied to the Ryan Wedding case. The case highlights the challenges of applying traditional extradition and asset-tracing tools to cryptocurrency-linked offenses.
As authorities increasingly rely on digital assets to launder funds, flight risk assessments may hinge on crypto access. The findings underscore the role of crypto in complex financial networks under scrutiny by U.S. and Canadian authorities.
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