Friday, December 13, 2024

Tag: Report: Chinese Fentanyl Suppliers Collected $38 Million in Cryptocurrency Payments

Report: Chinese Fentanyl Suppliers Collected $38 Million in Cryptocurrency Payments

by John Hayward, Breitbart:

A blockchain analytics firm called Chainalysis estimated on Wednesday that suspected producers of the lethal drug fentanyl, largely located in China, have collected some $38 million in payments using cryptocurrency since 2018.

The Chainalysis report, entitled “Crypto and the Opioid Crisis: What Blockchain Analysis Reveals About Global Fentanyl Sales,” noted that China “has been home to the largest chemical industry by revenue in the world since 2011” and was cited by the U.S. Drug Enforcement Administration (DEA) as the largest producer of precursor chemicals for fentanyl in 2019.