Investigation links former fentanyl precursor suppliers to bootleg peptide sales
Crypto payments to peptide vendors rose from about $200,000 a month before 2025 to more than $10 million a month during 2025, Chainalysis found.
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By Daniel Okafor · Regulatory Correspondent
Oct 8 02:15 ETSource: Digital Watch Observatory
The wire
- 01A Wall Street Journal investigation with TRM Labs and Chainalysis identified more than 200 Chinese firms that previously sold fentanyl precursors now active in peptides, at least 50 selling unapproved products to consumers.
- 02Vendors advertise melanotan II, semaglutide and tissue-repair compounds as research-use-only while marketing to individual buyers, the sourcing channel behind much gray-market product clinicians encounter.
- 03Chainalysis reported crypto flows rising 159% quarter-on-quarter in Q1 2026, from roughly $12 million to $32 million; the figures are blockchain estimates, not enforcement findings.
From the source
Read at dig.watchChinese black-market suppliers of Fentanyl now sell bootleg peptides to US consumers via cryptocurrency, investigation argues
Chinese manufacturers that have supplied fentanyl precursors are now selling unapproved peptide products to U.S. buyers
