Crypto Founder Linked to Major Drug Bust: 'Ponzi' Metaverse Under Investigation

An investigation by The Guardian has unveiled connections between Fasial Tariq, a Northampton-based cryptocurrency entrepreneur, and what has been termed the world's largest illegal weight-loss drug operation. This development arises amid a global rise in cryptocurrency-related crimes, prompting intensified law enforcement efforts.

Key Takeaways

Fasial Tariq is linked to an illegal weight-loss drug operation that has been described as the largest in the world.
Enforcement officers seized thousands of unlicensed weight-loss products and significant cash during a raid on a facility in Northampton.
The investigation connects Tariq’s activities with various businesses and controversial crypto ventures, including Paradox Labs.
The UK is experiencing increased pressures to regulate cryptocurrency-related criminal activities, including money laundering and drug operations.
Medical experts caution against the risks associated with the unregulated drugs involved in this operation, which have not completed clinical trials.

Crypto Founder Behind 'Ponzi' Metaverse Linked to Illegal Drug Bust

Drug Operation and Crypto Ventures Uncovered

In a significant crackdown on illegal activities, enforcement officers executed a raid in late October on a red-brick industrial unit in Northampton. During the operation, they confiscated thousands of unlicensed Alluvi-branded weight-loss pens, raw chemical ingredients, manufacturing equipment, and around £20,000 in cash.

Crypto Founder Illegal Drug - A unit on a Northampton industrial estate

The Guardian's findings state that some Alluvi pens contained retatrutide, a powerful GLP-1 agonist that is still undergoing clinical trials and has not received approval for medical use. Despite the substantial scale of this operation, no arrests have been made as of yet, and the Medicines and Healthcare Products Regulatory Agency has not disclosed who managed the illegal scheme.

Links Between Crypto and Drug Trade

Documents reviewed by The Guardian tie the raided industrial unit to Wholesale Supplements Limited, where Tariq is a director. Photographs of customer orders indicate that Alluvi products were marketed through Ecommerce Nutri Collectiv, a website that subsequently lost its payment processing capabilities after Stripe ended its services.

Records from Companies House reveal that Ecommerce Nutri Collectiv Limited previously operated from the same address as Vantage Commercials Group Limited, a company previously associated with Tariq. Interestingly, the trading name listed on Nutri Collectiv’s website redirects users to Paradox Labs, another crypto project established by Tariq, which has faced allegations of being a scam.

Stephen Findeisen, known as Coffeezilla, has questioned the economic viability of Tariq's ventures during a YouTube interview. Tariq, however, denies promoting a get-rich-quick scheme.

Social media videos related to Alluvi showcase a striking bright-green Lamborghini Huracán Spyder, while locals have reported that luxury vehicles, such as a Rolls-Royce, were often seen parked near the raided unit. Tariq’s previous company, Onyx, specialized in renting out high-end cars.

Tariq has a history of driving offenses, including a 2018 incident that led to a £1,185 fine and a 12-month driving ban for failing to identify a driver who surpassed him while speeding over 135 mph in a Ferrari. He had just regained his license after prior convictions for drink-driving and driving under disqualification.

Increased Scrutiny on Cryptocurrency Crime

An insider familiar with the illegal weight-loss drug market described those behind Alluvi as "nasty" operators known for their visibility from the start. This situation reflects a larger trend of criminal activities exploiting cryptocurrency systems. Recent actions include the UK’s Serious Fraud Office arresting two individuals linked to the $28 million Basis Markets collapse, where funds were misappropriated by the founders.

The law enforcement focus is not limited to the cryptocurrency sector; it has extended to traditional enterprises utilizing digital assets. Recently, three men in the UK received a combined sentence of 27 years for orchestrating a dark web drug operation that utilized cryptocurrencies for transactions.

In a similar vein, South Australia Police filed 800 charges and arrested 55 individuals tied to a cryptocurrency-linked ring, seizing $37.9 million in assets using FBI evidence.

Dr. Piotr Ozieranski commented that regulation driven by public complaints is progressing too slowly, stating, "At present, it often feels that the worst that can happen is a slap on the wrist." He emphasizes that this allows the public to remain exposed to significant threats.

Medical professionals express concerns that retatrutide has not fulfilled its clinical trials, raising alarms about the potential contamination, incorrect dosing, or sterilization issues with unregulated injectable drugs. The implications could range from severe infections to pancreatitis and hazardous blood sugar fluctuations.

Despite the gravity of the situation, the MHRA confirmed that no arrests related to this operation have taken place and refrained from commenting on Tariq, citing ongoing investigations.

The Alluvi website remains operational, asserting that products are currently unavailable due to "huge demand" over the holiday season. Its Telegram channel continues to attract thousands of members, seemingly placing orders daily, with suggestions that production has relocated following the law enforcement raid.

In response to the growing threat of cryptocurrency-based crimes, Tether, the company responsible for USDT, has teamed up with the United Nations Office on Drugs and Crime to bolster cybersecurity efforts and combat illicit digital asset activities.

Recent enforcement initiatives also saw federal prosecutors in Chicago charge a founder of a crypto ATM with a money-laundering conspiracy involving $10 million in transactions and the U.S. Treasury sanctioning 19 entities linked to crypto scams that defrauded Americans of $10 billion in 2024.