US Accuses Chinese Companies of Using Crypto to Sell Drugs

The US Department of Justice has initiated criminal investigations against eight Chinese companies and fourteen employees engaged in drug trafficking using digital currencies.

Attorney General Merrick Garland stated that global fentanyl distribution, which leads to fatalities in the US, often originates from chemical companies in China.

These firms are suspected of manufacturing fentanyl and methamphetamine, distributing synthetic opioids, and selling precursor chemicals.

According to authorities, the Treasury Department’s Office of Foreign Assets Control has already identified and designated 28 individuals and entities involved in these illegal activities.

Authorities have found that the Chinese drug supply chain leads to counties in Florida, specifically the Middle and Southern regions.

Some of the drugs were shipped directly through intermediaries, using counterfeit stamps and falsified declarations.

The Ministry of Justice stressed that these companies often use cryptocurrency transactions to conceal their identities and the movement of funds.