Authorities say links between a seized weight loss drug operation and a controversial crypto project highlight widening risks at the edges of the digital asset economy.
British regulators have uncovered connections between a record breaking seizure of illegal weight loss drugs and a crypto entrepreneur previously accused of running a Ponzi style project, underscoring how financial fraud and unregulated health products are increasingly intersecting.
The Medicines and Healthcare Products Regulatory Agency said it raided an industrial estate unit in Northampton, seizing large quantities of retatrutide, a next generation GLP 1 weight loss drug that is not licensed for sale in the UK. Investigators also recovered around £20,000 in cash, raw chemical ingredients and manufacturing equipment. Authorities estimated the street value of the seized drugs at £250,000.
Retatrutide has been dubbed the “Godzilla” of weight loss injections in online circles, reflecting its potency and demand. Unlike approved medications, the seized products were being produced and sold without medical oversight, prescriptions or verified dosage controls.
Corporate links trace back to crypto ventures
An investigation by the Guardian traced company records linking the raided facility to Fasial Tariq, a co founder of Paradox Metaverse, a crypto gaming project that drew scrutiny last year. Tariq was listed as a director of Wholesale Supplements Limited, the firm registered to the Northampton unit targeted in the raid.
Further records showed customer orders for weight loss injections were processed through Ecommerce Nutri Collectiv, a business sharing an address with Vantage Commercials Group Limited, another company connected to Tariq. A link on the Ecommerce Nutri Collectiv website redirected users to Paradox Labs, previously archived as Paradox Studios, which was described as the development arm behind Paradox Metaverse.
Investigators said the digital trail tied the illegal drug operation directly to the crypto project’s ecosystem. Local residents also reported frequent sightings of high end vehicles outside the industrial unit, a detail the Guardian linked to Onyx, a luxury car rental business operated by Tariq and his brother.
Sources familiar with the illicit weight loss drug trade told investigators that such products are often manufactured cheaply, with minimal safeguards for hygiene or accurate dosing. Despite the seizure, the operation is believed to remain active through Telegram channels, according to people with knowledge of the investigation.
A crypto project already under scrutiny
Paradox Metaverse had previously gained attention in the crypto community after securing a high profile livestream with IShowSpeed, a content creator with more than 43 million followers. The appearance helped the project gain visibility and credibility among retail investors.
That momentum collapsed after crypto investigator Coffeezilla examined the project and publicly labeled it a Ponzi scheme. After interviewing the project’s orchestrators, Coffeezilla concluded that Paradox Metaverse relied on unsustainable yield promises rather than a viable game economy, and described the founders as scammers.
The case illustrates how some crypto ventures have leveraged celebrity exposure and complex narratives to attract funds, only to unravel under scrutiny from independent investigators rather than regulators.
UK authorities have not filed criminal charges against Tariq in connection with either the pharmaceutical seizure or the crypto project. The MHRA said its raid focused on removing unlicensed medicines from circulation, not on investigating cryptocurrency activity.
Still, the episode highlights growing concerns among regulators and analysts that individuals operating on the fringes of crypto markets may also exploit gaps in oversight in other sectors. As demand for weight loss drugs surges globally and crypto enforcement remains uneven, investigators warn that the overlap between financial fraud and public health risks may continue to expand.
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