Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Ingredients: U.S.
Mexican criminal organizations are using digital assets like bitcoin, ether, monero, and tether to purchase raw materials for fentanyl production from China-based suppliers, according to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN). Payments often end up in the Chinese suppliers' crypto wallets, sometimes via a secondary money transmitter. This information updates a 2019 FinCEN advisory and reflects issues already seen in U.S. sanctions and criminal cases. In October, eight China-linked companies were charged by the U.S. Department of Justice for illegal drug production, distribution, and sales of precursor chemicals. Fentanyl, a synthetic opioid 100 times more potent than morphine, is the leading cause of overdose deaths for those aged 18-45 in the U.S.
