Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»A chemical store with alleged drug connections has received $250 million in cryptocurrency since 2015, Chainalytic has revealed.
ADOPTION NEWS

A chemical store with alleged drug connections has received $250 million in cryptocurrency since 2015, Chainalytic has revealed.

By Crypto FlexsMarch 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
A chemical store with alleged drug connections has received 0 million in cryptocurrency since 2015, Chainalytic has revealed.
Share
Facebook Twitter LinkedIn Pinterest Email
Legal • March 7, 2024 10:07 AM EST

Posted 1 minute ago In ~

According to reports, since 2015, a chemical store suspected of being involved in an illegal drug network has received $250 million in cryptocurrency. Chain analysis.

A study by a blockchain analytics firm released on Thursday found that between July 2015 and February 2024, $2.5 billion worth of cryptocurrency flowed into digital wallets associated with suspected chemical stores. About $100 million of these funds went to pharmaceutical plants. In China, Chainalytic claims.

According to Chainalysis, the target of the transfer is believed to be a chemical precursor store or drug production site that produces key ingredients needed to produce illegal drugs such as fentanyl and heroin.

The new report includes thousands of previously unidentified wallets associated with chemical stores, the research firm said in a press release. The data set includes both exchange deposit addresses and several unique on-chain services and wallets.

Chainanalytic’s latest report confirms there is more money in suspected drug-related transactions than reported in previous years’ surveys. In its 2023 report, Chainalysis estimated that approximately $38 million worth of digital tokens flowed into wallets belonging to chemical precursor stores between January 2018 and April 2023, but this was using a smaller data set. .

It is unclear whether Chainalytic’s recent findings reflect an increase in drug-related cryptocurrency transactions, or whether the increased inflows into drug-related wallets are a result of the company’s decision this year to analyze a larger number of wallets over a longer period of time.

The clandestine nature of the illicit drug trade makes it difficult to trace digital funds involved in illicit drug production. China was the largest producer of fentanyl precursors globally in 2019, according to the U.S. Drug Enforcement Administration (DEA). Since then, the DEA has been pressuring China to shut down precursor chemical networks that facilitate the illegal drug trade. Last October, federal officials said prosecution Indicted eight Chinese pharmaceutical companies and their employees for drug-related crimes.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, cryptocurrency, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

BTC RSI hits April low as Coinbase premium turns red.

October 18, 2025

Crypto Exchange Rollish is expanded to 20 by NY approved.

October 2, 2025

SOL Leverage Longs Jump Ship, is it $ 200 next?

September 24, 2025
Add A Comment

Comments are closed.

Recent Posts

Phemex Upgrades Rewards Hub With $15,000 Package And Mystery Box System

October 22, 2025

Alps Blockchain Announces Corporate Rebranding To Alps

October 22, 2025

Why Most Crypto Cities Fail: The Surprising Reason Revealed

October 22, 2025

A retail rail can push $2 million a day out of the chain.

October 22, 2025

Bitcoin Futures Traders Return to Pumping BTC: Will It Last?

October 21, 2025

Bank of England to introduce stablecoin regulations by 2026

October 21, 2025

LayerZero Outlook: ZRO Price Imminent Ahead of $43 Million Token Unlocking.

October 21, 2025

Bombastic Casino Unveils New Design And Enhanced Features

October 21, 2025

Leading A New Era Of AI Model Training And Digital Computing Power Contracts

October 21, 2025

Earn 15% APR With Flexible Redemption And Up To 2,926 USDT

October 21, 2025

Crypto Market Recovers As Liquidity Returns — Pepeto Announces $700K Giveaway And 221% Staking Rewards

October 21, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

XRP And BlackchainMining Are Giving Away A Massive $77.77 Million Bonus!

October 22, 2025

Phemex Upgrades Rewards Hub With $15,000 Package And Mystery Box System

October 22, 2025

Alps Blockchain Announces Corporate Rebranding To Alps

October 22, 2025
Most Popular

Thailand allows asset companies to access spot Bitcoin ETFs for professional investors.

March 12, 2024

LMWR is up 226% over the past month.

December 2, 2024

Will XRP price fall another 8%? Here are the new predictions…

March 16, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.