• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

US Prosecutes Chinese Companies Trading Fentanyl Using Cryptocurrency

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

US officials just filed expenses towards a quantity of Chinese businesses and men and women concerned in fentanyl trafficking routines.

US Prosecutes Chinese Companies Trading Fentanyl Using Cryptocurrency. Photo: CGTN

On October three, the US Department of Justice (DOJ) announced eight releases accusation have accused many Chinese businesses and men and women of creating fentanyl and methamphetamine, distributing synthetic opioids, and trafficking precursors.

The US requires action towards Chinese businesses, men and women linked to fentanyl https://t.co/N6xwb8x6M7 pic.twitter.com/4paKpG0ZXY

— Reuters (@Reuters) October 3, 2023

Criminal groups use numerous various styles of payments, with cryptocurrencies remaining the principal approach for hiding identities and traces.

The company pointed out that Qingsong Li and Chunhui Chen of Hebei Shenghao Import and Export Company held and coordinated the company’s cryptocurrency trading portfolio. Wei Zhang of Hubei Guanlang Biotechnology Company also acquired comparable expenses for fentanyl and opioid transactions.

At the identical time, the Treasury Department’s Office of Foreign Assets Control (OFAC) blocked sixteen associated crypto wallets.

Most of the frozen wallet addresses belong to five men and women concerned in the storage and trafficking of fentanyl and medicines. four of them belong to the Valerian Labs firm of Vancouver (Canada).

Deputy Finance Minister Wally Adeyemo mentioned:

“We have blocked more than a dozen virtual currency wallets associated with these actors. The number of blocked wallets, which received millions of dollars from hundreds of deposits, clearly illustrates the scale and scope of this type of crime.”

In associated developments, OFAC also lately blocked the crypto wallet of the Mexican Sinaloa gang, which was smuggling fentanyl into the United States.

Fentanyl it is a synthetic opiate, 50 occasions additional potent than heroin and a lot a lot easier and less expensive to make. Fethyl and its derivatives are deemed an particularly harmful new drug.

Coinlive when reported that the bulk of fentanyl spilled in Mexico and the United States comes from China and is paid for in cryptocurrency. Blockchain analytics firm The elliptical also emphasized As of May 2023, fentanyl producers have acquired additional than $27 million in BTC payments, with fentanyl manufacturing well worth an estimated $54 billion.

Related articles

Hong Kong cryptocurrency exchange Hounax scammed users out of $15.4 million

Hong Kong cryptocurrency exchange Hounax scammed consumers out of $15.four million

November 27, 2023
CoinEx: more than trading

CoinEx: far more than trading

November 27, 2023

Furthermore, US Senator Elizabeth Warren when mentioned that “rogue states, oligarchs and drug lords are using cryptocurrencies to launder billions of dollars in dirty money, evade sanctions and finance terrorism.” Therefore, Mrs would like to create a bill to place an finish to this dilemma and restore purchase in the marketplace.

Coinlive compiled

Maybe you are interested:

Join the discussion on the hottest concerns in the DeFi market place in the chat group Coinlive Chats Let’s join the administrators of Coinlive!!

Tags: AmericaChinesecompaniesCryptocurrencyfentanyljudicialProsecutestrading
Share76Tweet47

Related Posts

Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly

by shark
June 2, 2025
0

Japan's Metaplanet has acquired 1,088 more Bitcoin for $117.7 million, positioning it among the top ten global holders.

Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak

by shark
June 2, 2025
0

The Bitcoin ETFs experience a net outflow of $157 million, ending six-week inflow streaks, reflecting shifts in investor sentiment due...

Nervos Network’s Force Bridge Compromised in $3M Hack

by shark
June 2, 2025
0

Cyvers Alerts reported a hack on Nervos Network's Force Bridge, compromising over $3 million in assets on June 2, 2025.

BitoPro Hack: $11.5 Million Lost in Taiwan

by shark
June 2, 2025
0

BitoPro, Taiwan-based crypto exchange, suffered an $11.5M hack in May 2025, with user fund impacts reported.

US Congress Moves to Introduce New Crypto Legislation

by shark
June 2, 2025
0

US Congress advances CLARITY Act for digital asset regulation, affecting crypto markets and investor confidence.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly
  • Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak
  • Nervos Network’s Force Bridge Compromised in $3M Hack
  • BitoPro Hack: $11.5 Million Lost in Taiwan
  • US Congress Moves to Introduce New Crypto Legislation
  • Singapore’s MAS to Curb Overseas Crypto Activities by 2025
  • Metaplanet Acquires 1,088 Bitcoin, Total Reaches 8,888 BTC
  • Metaplanet Acquires Additional 1,088 Bitcoins
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7