Chinese sold banned substances for cryptocurrency in an amount sufficient to kill every person on Earth

According to the analytical company Elliptic, more than 90 Chinese chemical laboratories that produce the opioid analgesic fentanyl sell it in bulk abroad, accepting payment in bitcoin and USDT stablecoins.

Elliptic’s report states that the opioid precursors sold for tens of millions of dollars in cryptocurrencies would be enough to produce enough fentanyl to kill every person on Earth.

Elliptic researchers have analyzed some of the cryptocurrency addresses with which these organizations interacted. According to analysts, over the past five years, digital assets worth about $ 27 million have been transferred to these addresses, and over the past year, the number of transactions with them has increased by 450%.

Tom Robinson, the head of the research team, noted that more than 90 Chinese laboratories that sold fentanyl precursors advertised their products on the darknet, and 90% accepted payments in BTC and USDT. Robinson refused to name these companies, but noted that Elliptic had already passed this information to law enforcement agencies.

Analysts said that the drugs were delivered to Mexico, from where drug cartels could import them into the United States. Most of the identified chemical suppliers had accounts on three cryptocurrency exchanges operating outside of China, but these exchanges were not listed in the report.

As a reminder, the U.S. Senate recently introduced a bill to combat terrorist financing. The draft law provides for the creation of a task force to analyze suspicious transactions, which will include the Drug Enforcement Administration.