US Sanctions Chinese Firm & Crypto in Fentanyl Drug Trade Crackdown

US Treasury Sanctions Guangzhou Tengyue Chemical and Representatives for Synthetic Opioid Trafficking, Targets Cryptocurrency Links

  • 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.

- Advertisement -

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.

- Advertisement -

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.

✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest News

Aave Lab Offers Revenue, New Focus to DAO’s End Feud

Aave Labs has proposed a new framework directing all revenue from Aave-branded products to...

Soldier used military secrets for $150K crypto bets.

An Israeli reserve soldier and a civilian accomplice face charges for allegedly using military...

BitGo, 21Shares Expand ETF Staking & Custody Partnership

BitGo and 21Shares have expanded their partnership to provide custody, trading, and staking services...

North Korean Hackers Use Google’s Gemini AI for Cyber Recon

Google's threat intelligence team observed the North Korean hacking group UNC2970 using the generative...

Binance SAFU Fund Now Holds $1 Billion in Bitcoin

Binance has purchased $305 million in Bitcoin for its user protection fund, bringing its...

Must Read

Sushiswap vs Uniswap, What are the differences between these dex?

It's no secret that the world of decentralized exchanges has exploded in recent years. Many of you are probably wondering what the difference is...
🔥 #AD Get 20% OFF any new 12 month hosting plan from Hostinger. Click here!