South Korean authorities have apprehended 49 individuals in connection with a suspected drug trading syndicate facilitated by cryptocurrencies, as announced by officers on April 23.
According to reports from Newsis, the Drug Crime Investigation Unit of the Busan Police Agency revealed that the gang had illicitly trafficked and distributed narcotics valued at nearly $1.5 million to buyers who paid in cryptocurrencies.
The alleged ringleader of the gang, believed to be residing in the Philippines, is currently being pursued for extradition by South Korean authorities.
The gang is accused of smuggling drugs, including methamphetamine (crystal meth) and synthetic marijuana, from the Philippines into South Korea. They also purportedly supplied drugs to buyers within the Philippines.
Authorities disclosed that the gang employed drug smugglers to conceal narcotics within women’s sanitary products in an attempt to evade detection at airports.
The gang communicated with potential buyers through 11 Telegram channels, with transactions conducted using cryptocurrencies.
Operating in a manner reminiscent of previous cases, the gang arranged for drug deliveries to be “dead-dropped” in chosen residential areas across South Korea, concealing the substances in electric terminal boxes and fire hydrants.
Upon confirming a transaction, dealers would provide buyers with photographs and GPS coordinates to locate the hidden narcotics.
The illicit operation commenced in August of the previous year, resulting in the arrest of suspects in both South Korea and the Philippines, some of whom face charges related to drug use.
In Busan, four suspected smugglers and 12 alleged dealers were apprehended, while Philippine authorities detained five suspected smugglers and 27 suspected dealers.
Seized during the operation were 4.8kg of drugs, including 1.2kg of methamphetamine, along with nearly $41,000 in fiat currency.
Authorities conducted surveillance for several weeks, utilizing Telegram message analysis and footage from over 1,500 CCTV cameras to track the syndicate’s activities.
The Busan Police Agency collaborated with law enforcement agencies in the Philippines, Interpol, and the South Korean National Intelligence Service throughout the investigation.
The head of the Busan Police Drug Crime Investigation Unit, Seo Sang-tae, affirmed the unit’s commitment to combatting internet drug transactions, emphasizing an ongoing crackdown on drug-related crimes.
South Korean President Yoon Suk-yeol previously declared a rigorous stance against crypto-enabled drug trafficking, underscoring the necessity to utilize all government resources in this endeavor.
Recent reports have highlighted the prevalence of dead-drop drug transactions conducted using cryptocurrencies in major South Korean cities, underscoring the persistent challenges faced in combating illicit drug activities.