Bitcoin Leads Crypto Transactions for Chinese Drug Precursor Manufacturers Amid Sharp Increase in 2024 Deposits

Blockchain intelligence firm TRM Labs has reported a significant increase in cryptocurrency deposits into addresses linked to Chinese drug precursor manufacturers in early 2024 compared to the same period in 2023. In 2023, these Chinese networks amassed over $26 million in digital currencies, with 97% of the studied manufacturers accepting cryptocurrency payments. A dramatic 600%

Source: CoinOtag