Chinese pharmaceutical chemical companies that can ship precursors for Fentanyl overseas are accepting cryptocurrencies, such as Bitcoin and Tether, as a form of payment. This was revealed in an investigative research report published by Elliptic, a blockchain analytics firm that specializes in risk management and regulatory compliance.

Elliptic identified more than 80 China-based firms that offered to ship Fentanyl precursors abroad in exchange for cryptocurrencies. The analytics firm also found that most of the chemical suppliers it identified used accounts at three specific exchanges based outside of China.