A man from North Haledon, New Jersey, has been sentenced to 12 years in federal prison for using Bitcoin
William Panzera was found guilty in 2025 of drug trafficking and international money laundering, according to a statement published on January 22.
Prosecutors said he was part of a group that moved large amounts of synthetic opioids from China to New Jersey, where the drugs were resold as powder and fake prescription pills.
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The operation ran for about six years, from 2014 to 2020. Investigators said the network bought fentanyl analogues, MDMA, methylone, and ketamine from Chinese suppliers.
Payments were sent through both regular bank transfers and Bitcoin, which helped the group avoid financial oversight.
Panzera’s role was central to the operation. Officials said the group sent hundreds of thousands of dollars in cryptocurrency to China in exchange for drugs that contributed to widespread opioid abuse in US communities.
After a federal trial, Panzera was convicted of conspiracy to distribute and possess more than 100 grams of furanyl fentanyl and 4-fluoroisobutyryl fentanyl. He was also found guilty of conspiracy to commit international money laundering.
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