🚨 Elliptic, a leading blockchain analytics firm, has uncovered a network of 100 individual suppliers smuggling the precursor chemicals needed to synthesize fentanyl. Criminals facilitate payments and transfer funds destined for Mexico, especially using cryptocurrencies such as Bitcoin, Ethereum, Tron and Monero.

🔍 Elliptic's report draws attention to the chemical supply chain of controlled substances directed to the drug epidemic in the United States and beyond and emphasizes the important role of cryptocurrencies in this illegal trade.

📈 According to the research, suppliers received over $32 million in total payments via Tether (USDT) in Bitcoin, Tron and Ethereum. The data shows a 450% year-on-year upward trend in payments to fentanyl lead suppliers since 2021. Bitcoin leads at $19 million, while USDT on Tron follows at $9 million and USDT on Ethereum follows at $4 million.

💊 These suppliers also provide these chemicals for the production of other illegal drugs. The market for illicit drugs such as fentanyl, methamphetamine and ecstasy is facing a serious crisis, with billions of dollars worth of drugs flowing into the market. This is exacerbating the global drug crisis, which has a potential street value of more than $50 billion.