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South Korean Police Raid on Crypto-Powered Drugs Trading Gang
South Korean police have arrested 49 individuals in a recent raid on a suspected crypto-powered drugs trading gang. The Busan Police Agency Drug Crime Investigation Unit revealed that the gang had smuggled and sold nearly $1.5 million worth of narcotics to crypto-paying buyers.
Arrest of ‘Gang Leader’ in the Philippines
The police are currently working on repatriating the suspected ringleader of the gang, believed to be based in the Philippines. The gang was involved in smuggling drugs like methamphetamine and synthetic marijuana into South Korea from the Philippines, with sales also made to buyers in the Philippines.
Modus Operandi of the Gang
The gang used various tactics to evade detection, including concealing drugs inside women’s sanitary products. They also utilized Telegram channels for communication with drug users, who paid in cryptocurrency for the illicit substances.
Dead-Drop Deliveries and Arrests
The gang arranged dead-drop deliveries of narcotics in residential areas chosen by buyers, hiding drugs in electric terminal boxes and fire hydrants. Police arrested suspected dealers, smugglers, and drug users involved in the operation, confiscating drugs and cash worth thousands of dollars.
Police Investigation and Collaboration
Law enforcement agencies tracked the gang for weeks by analyzing Telegram messages and CCTV footage. Collaboration between authorities in South Korea, the Philippines, Interpol, and the South Korean National Intelligence Service led to successful arrests and seizures.
Government Crackdown on Drug Crimes
President Yoon Suk-yeol’s administration has declared a strong stance against crypto-powered drug trafficking, emphasizing the need to mobilize government resources in combating drug-related activities. Recent arrests and crackdowns highlight the ongoing efforts to curb drug crimes in South Korea.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
