The U.S. Treasury Department also sanctioned several actors and their cryptocurrency addresses in connection with the allegations.

On October 3, US authorities took action against several Chinese companies and individuals involved in the Fentanyl trade.

The U.S. Department of Justice (DOJ) announced that it has unsealed eight indictments for crimes related to the production of Fentanyl and methamphetamine, the distribution of synthetic opioids, and sales related to precursor chemicals.

The U.S. Department of Justice said that although participants used a variety of payment methods, those involved in the crime incorporated cryptocurrencies into their cash flow. It noted that crypto transactions allowed participants to hide their identities and cover the financial trail.

The agency specifically said two individuals linked to Hebei Shenghao Import and Export Company, Li Qingsong and Chen Chunhui, held crypto wallets used for remittances related to precursor chemicals used in drug production.

The U.S. Department of Justice said the actions of another individual, Zhang Wei, were linked to Hubei Guanlang Biotechnology Co. Zhang is accused of operating a crypto wallet that facilitated sales transactions for fentanyl precursors and opioid additives.

New Treasury Sanctions

Another announcement from the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions on parties involved in the drug trade.

The sanctions list restricts a total of 19 cryptocurrency addresses, including wallets holding Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Tron (TRX).

Although the Treasury Department’s sanctions target 28 companies and individuals, most of the above crypto addresses belong to only five individuals, who are linked to companies involved in Fentanyl and drug trafficking. Four of the crypto addresses also belong to a company called Valerian Labs in Vancouver, Canada.

In addition, the Treasury Department imposed sanctions on drug cartel leader Du Changgen. It said Changgen personally received cryptocurrencies, but the sanctions list did not include any crypto addresses belonging to Changgen.

In an update on the use of cryptocurrencies in the Fentanyl trade, the DOJ noted that it had taken other actions against Chinese companies in June; some of those entities also used cryptocurrency payments.

Outside of law enforcement, blockchain analytics firm Elliptic highlighted the issue in May 2023, leading U.S. Senator Elizabeth Warren to call for action later that month. #美国  #犯罪