The Fentanyl Crisis: A Modern Plague Killing an American Every 7 Minutes

A shocking statistic reveals that an American dies every 7 minutes due to the ravages of fentanyl, a synthetic drug that is fifty times more deadly than heroin and a hundred times more than morphine. This health crisis is unfolding on the other side of the Atlantic, where the drug has become one of the leading causes of death among 18-45 year olds in the United States.

The illicit drug market, where fentanyl is widely available at a low cost, has Mexico as one of its main hubs for international trafficking. Cartels control a significant portion of this lucrative business, with American authorities condemning the use of cryptocurrencies by these criminal organizations. Bitcoin, Ethereum, Monero, and Tether are among the digital currencies mentioned in a report by the Financial Crimes Enforcement Network (FinCEN), highlighting the dark underworld where human health is worth less than a handful of dollars.

The FinCEN, a branch of the U.S. Department of the Treasury, has recently issued a warning to American financial institutions about the use of cryptocurrencies in illegal fentanyl trafficking. Cartels are increasingly using these digital currencies to purchase the chemicals and equipment needed to manufacture fentanyl, often acquiring them from suppliers in China.

The use of Bitcoin, Ethereum, Monero, and Tether in these transactions ultimately benefits the suppliers in China, perpetuating the cycle of illicit trade. The international nature of this trafficking, with multiple borders to cross, makes cryptocurrency a convenient means of settling such transactions.

The authorities have outlined recommendations in a 15-page document to help financial companies recognize evidence of trafficking and be vigilant for subtle signs of such activities. The exchanges between Mexico and China, as well as certain companies openly selling materials for producing, packaging, or distributing these dangerous synthetic drugs, have come under scrutiny.

Cryptocurrency is merely a tool for traffickers to circumvent international rules on money laundering and financing of criminal activities. It is crucial for public authorities to tackle this issue head-on to end the daily tragedy of fentanyl consumption and prevent the transformation of American streets into open-air death traps.