Fake ‘Zksync.jp’ Token Scam Linked to Fentanyl-Tied Chinese Network

What happened: A criminal group allegedly linked to fentanyl distribution used a fake token, “zksync.jp,” to defraud crypto users globally, resulting in losses exceeding $1 million. The scam originated from Japan and targeted unsuspecting investors worldwide.

Why it matters: The incident highlights the persistent risks of fraud and cross-border crime in the crypto space. The use of a fentanyl-linked network underscores the intersection of illicit finance and digital assets, raising regulatory concerns about enforcement and consumer protection.

Source: Zack Abrams, The Block