elliptical, a blockchain The analytical company has revealed that various Chinese firms selling Fentanyl precursors have received huge amounts of cash in crypto payments. In addition, the suppliers mostly allowed bitcoin (btc) And Tether (USDT) Payment.
Elliptic researchers spoke with more than 90 Chinese companies that are poised to business fentanyl precursors. Furthermore, 90% of these firms offered crypto payments, while 17 companies were willing to supply the product.
Wallets transact massive amounts of crypto
discovered the ellipse Purse Bulk Transactions. The chemical provider received over $27 million in cryptocurrency. That’s enough to buy the fentanyl precursor to the pills with a street value of $54 billion.
Chemical suppliers received payments in huge transactions, the analytical firm said, adding that the number of transactions increased by 450%.
Suppliers accept bitcoin and tether
Chemical providers largely accept payments in bitcoin and tether (according to reports). Elliptic analyzed some of the addresses shared by the suppliers. Bitcoin payments account for 66% of total transactions, while Tether transactions on Tron account for 21% of the total.
Also, transfers on USDT Ethereum Network total 13%. Other cryptos only account for 1%. The report says some companies supply other chemicals, most of which are used to make synthetic opioids – amphetamine and methamphetamine.
Meanwhile, Elliptic has alerted crypto exchanges of illegal trading and disclosed crypto wallets involved in the venture.
crypto market today
Invezz.com data Today shows most of the digital coins on bearish signs. The leading crypto, bitcoin, lost about 2.31% in the past 24 hours, changing hands near $26,750 at press time. The asset has struggled to maintain the uptrend in the past sessions, rejecting growth with the $28K barrier.
Furthermore, some analysts believe that BTC will drop to $25K before accumulating enough momentum for a solid uptick. participants should see Economic Development Which could shape the trajectory of the market.
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