South Korean Police Arrest 90 in Raid on ‘Crypto-powered Drug Gang’
South Korean police have arrested 90 people on suspicion of using cryptocurrency to help them sell drugs in bars and clubs all over the country. According to the South Korean news outlet Money Today, the suspected gang members are all Vietnamese nationals.
The Busan Metropolitan Police Agency arrested the group on suspicion of violating the Narcotics Control Act, with 18 suspects being remanded in custody. The investigation began in September last year and focused on nine Vietnamese-run bars and clubs in the cities of Sejong, Daegu, Cheonan, Asan, and Jincheon.
The police stated that the gang systematically smuggled drugs into South Korea and distributed them in the bars and clubs. The gang members smuggled drugs into the country by disguising them as packets of coffee and vitamins. Some of the suspects are illegal residents.
It is believed that the gang brought 1.04 billion won ($721,000) worth of narcotics into the country and sold 710 million won (almost half a million USD) worth of drugs to club and bar patrons. The gang used cryptocurrency as a payment tool for selling, smuggling, and sourcing the drugs. They sold synthetic marijuana, ketamine, and MDMA (ecstasy) to club- and bar-goers and organized private parties to boost interest in their illegal products.
The police have informed several local government bodies about the details of this crackdown and plan to take action against buyers who took drugs at the bars and clubs in question. They also intend to identify and arrest more intermediaries by analyzing the suspects’ cell phones digitally. The police force plans to conduct regular crackdowns on clubs and entertainment venues frequently visited by foreign nationals to prevent the spread of drugs and drug abuse.
South Korean police and prosecutors have been battling a worsening epidemic of crypto-powered drug crime. Recent Korean-language posts on social media networks have shown drug dealers offering nationwide drug delivery and accepting advance Bitcoin (BTC) payment for the deliveries. South Korean media outlets have reported that crypto-powered drug gangs have turned Korean-language Telegram channels into “drugs department stores,” which have become an illicit playground for young South Koreans.
