Chinese firms fuel Fentanyl drug abuse epidemic, earn millions in crypto

As countries like India struggle with the growing menace of drugs, crypto has emerged as a culprit as two separate reports by Blockchain research firms have revealed that Chinese chemicals companies, suspected of supplying the base substances to produce fentanyl to overseas drug cartels, have earned tens of millions of dollars in cryptocurrencies.

Most fentanyl trafficked into the US is manufactured using precursors imported from Chinese suppliers, according to researchers from London-based Blockchain analytics firm Elliptic.