US indicts Chinese nationals using crypto in global fentanyl trafficking
US authorities indicted Chinese companies and nationals for trafficking fentanyl precursors and laundering money using cryptocurrency.Summary
A federal grand jury in Ohio indicted two Chinese pharmaceutical companies and six Chinese nationals for their involvement in trafficking fentanyl precursors and laundering money, with cryptocurrency playing a key role in the financial transactions. The indictment, part of “Operation Box Cutter,” alleges the companies supplied chemicals used to manufacture fentanyl and directed customers to pay with crypto wallets. Three defendants are also accused of supporting a Mexican drug cartel designated as a foreign terrorist organization. Authorities highlight the increasing use of crypto – approximately 97% of China-based drug precursor manufacturers accept it – with onchain inflows reaching $39.1 million in 2025. This case represents a shift in enforcement towards targeting the entire supply chain, including foreign suppliers and crypto wallet holders, rather than solely focusing on cartels.
(Source：The Block)