Crypto Funds in Fentanyl Trade Largely Come From Centralized Exchanges: Report
A new report by Elliptic reveals that crypto funds originating from centralized exchanges are being used to finance the global fentanyl trade. The report identifies $32 million worth of crypto income in dealers' digital wallets, with 100 China-based suppliers accepting crypto for pill presses and fentanyl precursor chemicals. While decentralized finance (DeFi) has been highlighted as a potential vector for financial crime, the report suggests that the majority of dealers' income comes from centralized exchanges.
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Crypto Funds in Fentanyl Trade Largely Come From Centralized Exchanges: Report
A new report by Elliptic reveals that crypto funds originating from centralized exchanges are being used to finance the global fentanyl trade. The report identifies $32 million worth of crypto income in dealers' digital wallets, with 100 China-based suppliers accepting crypto for pill presses and fentanyl precursor chemicals. While decentralized finance (DeFi) has been highlighted as a potential vector for financial crime, the report suggests that the majority of dealers' income comes from centralized exchanges.