Cryptocurrency

The White House indicates that cryptocurrencies are used to purchase illegal drugs.

The White House indicates that cryptocurrencies are used to purchase illegal drugs.

On August 21, the White House issued two advisories regarding illegal drug purchases in the United States, which contain references to the specific cryptocurrencies that are allegedly used as part of this process.

White House War on Drugs is a big joke.

The advisories were addressed to various financial institutions and digital payment platforms. The documents state:

“An analysis of sensitive financial data indicates that domestic illegal drug manufacturers, dealers and consumers use online payment platforms or CVC to purchase precursor chemicals or fully synthesized drugs, mainly from China.”

In the context of the documents, CVC refers to “convertible virtual currencies”, in particular Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Monero (XMR).

The drug fentanyl is also specifically mentioned in the recommendations. Fentanyl is a synthetic opiate that is one hundred times stronger than morphine. The drug is used, among other things, in surgical operations and is also given to terminally ill patients with severe pain. Fentanyl is officially only available with a doctor’s prescription.

Fentanyl is a fine powder and it is easy to mix with other drugs such as cocaine and heroin. Users are often not aware of this “mix”, which means that the number of users with an overdose increases enormously.

“Like purchases from a foreign source with MSBs or online payment processors, individuals in the United States are looking for fentanyl and identifying potential websites that offer the opportunity to buy illegal drugs online. Foreign representatives will instruct the US-based person to send payments via CVC, such as Bitcoin, Bitcoin Cash, Ethereum or Monero.”

The advisories also note that “CVC transactions generate a significant variety of information elements that can be very useful for law enforcement.”

Therefore, financial institutions are recommended to collect this data in the event of a suspicion, including “virtual currency wallet addresses, account information, transaction data (including […] hash), relevant transaction history, available login information (including IP addresses), information obtained from analysis of the public online profile and communication of the customer, information about mobile devices ”, etc.

First cause a problem and then come up with a possible “solution”. It is typical of the White House that, since the launch of the “War on Drugs”, it has been in control of the trade in illegal drugs.


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