- The US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Guangzhou Tengyue Chemical Co., Ltd. and two representatives on September 3, 2025.
- The company is involved in manufacturing and selling synthetic opioids and dangerous analgesic chemicals to the US.
- One cryptocurrency address linked to Huang Xiaojun, a company representative, was also sanctioned.
- A related federal indictment targets individuals and companies in the US and China for their roles in illicit drug trafficking.
On September 3, 2025, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Guangzhou Tengyue Chemical Co., Ltd., a Chinese chemical company, along with two company representatives, Huang Xiaojun and Huang Zhanpeng. The sanctions included one cryptocurrency address connected to Huang Xiaojun.
According to the OFAC press release, Guangzhou Tengyue manufactures and sells synthetic opioids, including fentanyl, as well as dangerous analgesic chemicals used as cutting agents mixed with illicit drugs. The two representatives coordinated shipments of these substances to the United States.
Huang Zhanpeng is the executive director, 50 percent shareholder, and legal representative of the company. Huang Xiaojun owns the Bitcoin address used by the company to sell controlled substances to a US buyer in 2023. The designation of the cryptocurrency address is part of US efforts to combat drug trafficking involving Chinese fentanyl producers and cartels in Mexico and Colombia.
Alongside OFAC’s actions, the FBI announced a federal indictment against these individuals and others for facilitating illicit drug flows. The indictment includes three people in the US and about 22 based in China, following a joint FBI and DEA investigation started in January 2024.
The press release notes that opioid overdose is the leading cause of death for Americans aged 18 to 45. Since 2021, synthetic opioids, mainly fentanyl, have been involved in over 70 percent of overdose deaths. China-based chemical companies remain the primary source of fentanyl precursor chemicals entering the US.
Elliptic’s research shows the sanctioned bitcoin address received funds from multiple known fentanyl precursor vendors and sent funds to stolen credit card data vendors, thieves, and scams. Elliptic has updated its blockchain analytics tools to enable users to screen and trace funds linked to the sanctioned parties and prevent processing illicit transactions.
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