The White House issued two advisories about illicit drug purchases in the United States which contain references to the specific cryptocurrencies allegedly used to do these things. The advisories where issued on August 21st 2019.
The advisories were addressed to various financial institutions as well as digital payments platforms. The documents state:
“An analysis of sensitive financial data indicates that domestic illicit drug manufacturers, dealers, and consumers use online payment platforms or CVC to purchase precursor chemicals or completely synthesized narcotics primarily sourced from China.”
In the documents CVC refers to “convertible virtual currencies,” particularly Bitcoin, Bitcoin Cash, Ethereum and Monero. Fentanyl a drug is also noted specifically.
“Similar to purchases from a foreign source of supply using MSBs or online payment processors, individuals located in the United States search for fentanyl and identify potential websites that may provide the opportunity to purchase illicit drugs online. Foreign representatives will instruct the U.S.-based individual to send payments through CVC, such as bitcoin, bitcoin cash, ethereum, or monero.”
The advisories also note that “CVC transactions generate a significant variety of information elements that may be extremely useful to law enforcement.”
Financial institutions are therefore recommended to collect these details in case of any suspicion.