Crypto-Funded Chinese Peptide Labs Shift From Fentanyl Precursors
4 reported
A new analysis from crypto-tracing firm Chainalysis finds that Chinese labs previously selling fentanyl precursors have switched to manufacturing and selling peptides, a gray market now measured at more than $100 million a year and growing. Peptides are chains of amino acids that promise weight loss, skin rejuvenation, and other benefits, sold as largely unregulated supplements. Chainalysis believes the transition is designed to cash in on social media “looksmaxing” hype and to avoid the risk of a law enforcement crackdown on opioid manufacturers. The analysis was published this week and is based on crypto flows to peptide sellers. This story was only caught by one source, so cross-referencing is not possible.
What’s reported
Chainalysis published an analysis of crypto flows to peptide sellers this week.
The gray market for peptides is now measured at more than $100 million a year and growing.
Some Chinese labs previously selling fentanyl precursors have switched to manufacturing and selling peptides.
Chainalysis believes the transition is designed to cash in on “looksmaxing” hype and avoid a law enforcement crackdown on opioid manufacturers.
Key figures
Chainalysis (crypto-tracing firm)
Sources: Wired
