South Korean authorities bust a drug trade using cryptocurrency


In their crackdown on the crypto-operated drug trading group, the South Korean police have detained 49 individuals.

Police in South Korea have arrested 49 individuals in an effort to dismantle a drug-dealing organization that functions on cryptocurrency. The group allegedly sold over $1.5 million worth of drugs to crypto-paying clients.

The police said that they are actively attempting to return the gang leader, who seems to be a Filipino national, to the Philippines.

According to what the investigators have discovered, the syndicate was engaged in importing synthetic marijuana and crystal methamphetamine from the Philippines. The group was supposed to sell narcotics to the Philippine market, according to the police.

According to the spokeswoman, the gang plotted the events and the drug smugglers acted as intermediaries, using menstrual sanitary goods as a cover to bring in packets of drugs.

The importers eventually figured out how to get narcotics past airport security by hiding them in their clothing—just as they hid their underwear from prying eyes.

The agent went on to say that the gang dealt with drug users via eleven separate Telegram channels, and that customers could only pay with cryptocurrency. The gang has once again agreed to deliver the drugs by dumping them in the streets, this time near the homes of its South Korean customers.

According to the police, “electric terminal boxes and water fittings” are common places for drug traffickers to hide their wares in residential neighborhoods. After that, drug traffickers made the photos and GPS coordinates public so that purchasers could find their narcotics.

Authorities said that the gang’s activities started in August of last year, and they stated that those apprehended in both the Philippines and South Korea were discovered to have been charged with drug usage.

Along with 12 alleged drug sellers, investigators in Busan also detained four individuals they believed to be involved in smuggling. Conversely, law enforcement officials in the Philippines apprehended 27 alleged traffickers and five smugglers, halting a drug-dealing conspiracy in its tracks.

In addition to the $41,000 worth of fla, an officer revealed that during the operation, authorities seized 4.8 kilogrammes of narcotics, including 1.2 kilogrammes of methamphetamine.

The police claimed to have monitored the gang for weeks by “reading operative texts” and reviewing more than 1,500 surveillance cameras. Along with South Korea’s National Intelligence Service and law enforcement authorities in the Philippines, members of the Busan unit collaborated with Interpol on the investigation.

By pledging to “intensify the drug crime- fight,” the Busan Police Department is taking drug misuse very seriously. Yoon Suk-yeol, president of South Korea, vowed a “total war” on drug trafficking in the cryptocurrency market in February of last year.

Also Read: Nigeria’s central bank had to deny that crypto accounts had been frozen

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