Chinese Fentanyl Suppliers Collected $38 Million in Cryptocurrency Payments

Breitbart ^ | 25 May 2023 | JOHN HAYWARD

[artichokegrower]

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.

[artichokegrower]

With this in mind, Chainalysis tracked down cryptocurrency addresses linked to suspected Chinese manufacturers of fentanyl precursor chemicals and found $37.8 million worth of crypto flowing to them, largely emanating from Latin America, North America, Europe, and Asia.

Wonder if Hunter and the "Big Guy" got their share?

[frank ballenger]

China’s cash windfall (while they undermine the US with drug crazed criminals and thousands of deadly overdoses ruining peoples’ lives——all to celebrate by the devious Chinese).

https://www.youtube.com/watch?v=UJOjTNuuEVw

[Right_Wing_Madman]

suspected producers of the lethal drug fentanyl, largely located in China, have collected some $38 million in payments using cryptocurrency since 2018

$38 million since 2018? That's nothing. Crime doesn't pay for these fentanyl dealers. I thought the number would be 1,000 times higher than that.

[henkster]

I think it was more than that. A lot more.

[Leaning Right]

Singapore has got it right.

But wait. Executions cause worthies like the Pope and the Secretary General of the UN great anguish. They cry over the executed criminal. But they care not about the poor kid who dies a filthy gutter from a drug overdose.

[Leaning Right]

> I think it was more than that. A lot more. <

It’s possible that there’s a typo in the article. But remember, the article is just talking about cryptocurrency payments. Total payments from all sources is certainly a lot more.

[Rightwing Conspiratr1]

Is that all? Just $38 million?

[SpaceBar]

My first thought too, ... that’s all? Seems like chump change in the drug world.

[Right_Wing_Madman]

the article is just talking about cryptocurrency payments. Total payments from all sources is certainly a lot more.

Either this crypto payment makes up a very small percentage of business, or these are extremely incompetent drug dealers.

[Chickensoup]

This is peanuts in fentanyl sales.

[Leaning Right]

> Either this crypto payment makes up a very small percentage of business… <

That’s what I think is going on. If I were a drug trafficker, I wouldn’t want to be paid in cryptocurrency. Those things leave a trail of electrons. And a determined government could be shut down the entire crypto exchange in an instant.

I’d much prefer being paid in suitcases full of yankee $100 bills.

[Paal Gulli]

Chinese Labs Are Selling Fentanyl Ingredients for Millions in Crypto

05/23/2023 1:17:08 PM PDT · by nickcarraway · 5 replies
Wired | MAY 23, 2023

https://freerepublic.com/focus/f-news/4155380/posts