Elliptic’s report identified payments to Russian crypto exchange Garantex and an unnamed Australian platform for fentanyl products worth billions in street value. The report estimates that these platforms received roughly $50 million in Bitcoin and Tether’s stablecoin USDT. At least 100 Merchants accept crypto payments for fentanyl ingredients as a means to evade sanctions and export restrictions. Fentanyl precursor merchants in China are utilizing centralized crypto exchanges in Russia and Australia to accept digital payments in a bid to evade
