South Korean police recently arrested 34 people in connection with a suspected crypto-powered drugs smuggling ring. The officers seized 90,000 doses of drugs, including methamphetamine, synthetic marijuana, and ketamine, that were being hidden in cosmetics products. The ring utilized smugglers based in Vietnam to send the products to South Korea through international courier services. The gang reportedly operated from August 2023 to April this year, selling the narcotics online to buyers who paid in cryptocurrency using Telegram as a communication tool.
Nine individuals, including two suspected South Korean ringleaders, have been remanded in custody, while 25 others have been charged with related crimes. The police discovered that the drugs received by the ring were hidden in a mountainside hole, with nearly six liters of synthetic marijuana solution uncovered. Additionally, officers found methamphetamine and ketamine buried in the countryside. Gang members would divide the drugs into smaller units and sell them through social media channels like Telegram, with recipients paying in cryptocurrency. The overall domestic market value of the seized drugs totaled over $1 million.
South Korea is taking decisive action to address the rise in cryptocurrency-related crimes, establishing a temporary virtual asset investigative unit as a permanent entity. The police have released images of cosmetics containers used to hide drugs before being shipped from Vietnam. In addition to the seized drugs, authorities also confiscated over $245,000 in funds linked to the smuggling ring. The investigation is ongoing, with suspicions that other individuals, including overseas suppliers, may be involved. All cases have been handed over to the prosecution service, and the public is encouraged to report any suspected instances of crypto-powered drug crime to investigative agencies.
The Chungbuk Police Agency’s criminal task force’s drug crime investigation unit conducted the raids on the suspected smuggling ring. The gang members would periodically retrieve the drugs from their hiding place and divide them for sale in smaller units. The police chief Park Ji-hwan emphasized the importance of public cooperation in reporting any suspicions of crypto-powered drug trafficking. President Yoon Suk-yeol previously declared an “all-out war” on crypto-powered drug trafficking in response to a significant increase in youth drug crime. The authorities are committed to cracking down on illegal activities involving cryptocurrencies and drugs to ensure the safety and security of the public.
Overall, the recent arrests and seizures made by South Korean police demonstrate the government’s commitment to combating crypto-powered drug smuggling and related crimes. By dismantling this smuggling ring and apprehending those involved, law enforcement aims to disrupt the flow of illegal drugs into the country and protect vulnerable populations, particularly the youth. The authorities are leveraging technology and international cooperation to track down and prosecute individuals engaged in such criminal activities. As investigations continue, additional suspects may be identified and brought to justice, contributing to a safer and more secure society. The public’s vigilance and collaboration are essential in identifying and reporting suspicious activities, thereby supporting law enforcement efforts to eradicate drug trafficking and other illicit practices facilitated by cryptocurrencies.
