Chainalysis Uncovers Crypto Links Between Mexican Cartels and Chinese Suppliers
- Chainalysis identified financial connections between Mexican drug cartels and Chinese fentanyl precursor suppliers via crypto transactions.
- A civil forfeiture case in Wisconsin led to the seizure of $5.5 million in cryptocurrency.
- Chinese manufacturers are primary suppliers of fentanyl precursors despite China’s crypto ban.
- Cartel-affiliated networks used unsophisticated crypto techniques for swift fund transfers.
- Between 2018 and 2023, suspected China-based traders received over $37.8 million in crypto payments.
The Chainalysis report reveals that Mexican cartels, including Sinaloa and Jalisco Nueva Generación, use cryptocurrency to purchase fentanyl precursors from Chinese suppliers, with over $37.8 million tracked in payments from China-based traders between 2018 and 2023.
Source (2.6)https://decrypt.co/310808/crypto-transactions-chinese-fentanyl-suppliers-mexican-cartels-chainalysis?rand=52368
