TechFlow reported, according to a Chainalysis report, chemical shops suspected of links to illegal drug networks have received $250 million in cryptocurrency since 2015.
The study by the blockchain analytics firm, released Thursday, found that one-quarter of $1 billion in cryptocurrency flowed into digital wallets linked to suspicious chemical shops between July 2015 and February 2024.
Chainalysis claimed that approximately $100 million of these funds went to pharmaceutical factories in China.
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