Drug Dealers In South Korea Caught Receiving Transactions With Crypto

Drug dealers in South Korea have been sentenced to seven years in prison. (Photo; Doc. Bitcoin ExchangeGuide)

JAKARTA - Drug crime cases involving crypto are increasingly rife in South Korea. Recently, a drug dealer who sells his illicit goods by accepting payments in cryptocurrency was sentenced to seven years in prison by a court in Busan, the country's second-largest city.

According to Yonhap's report, the defendant, who was only identified with the initials A, was also required to pay a fine of $ 9,000 (IDR 128.1 million). In addition, A also had to take part in the drug rehabilitation program for 40 hours. A denied that he had sold drugs, but admitted that he had consumed contaminants.

Prosecutors accused A of distributing drugs using the "dead drop" method, namely hiding drug bags in public places such as water meters and flower beds, then informing the buyer of the location via message.

A also asked buyers to pay cryptocurrencies so as not to leave traces of transactions that investigators could track. A is suspected of collaborating with other drug dealers to sell small amounts of drugs in Seoul, the capital city of South Korea.

The court said that A had committed a criminal act that damaged public health and threatened national security. The court also said that A showed no remorse for his actions.

This case shows how serious crypto-based drug issues are in South Korea. Previously, Cryptonewsm had reported that South Korean police had uncovered several networks of teenage miners and crypto holders and people in their teens who used darkweb portals to find dealers.

However, it seems that drug dealers are not only operating on the darkweb, but also on social media such as X (Twitter). Cryptonews.com has also seen many X posts from individuals claiming to be drug dealers directing potential buyers to Telegram addresses.

On Telegram, drug dealers and buyers discussed payments with cryptocurrencies, then set a dead drop at the agreed location. The dealers also sent photos and instructions on the location of the drug to the buyer.

Cryptonews.com has also seen X posts from individuals claiming to be drug dealers saying they "send" drugs such as cryptal methamphetamine, marijuana, and MDMA (excise) " across the country."

Last year, a court in Busan also sentenced one of A's colleagues to two years and six months in prison, as well as a fine of around $ 9,000, to one of A's colleagues. The court heard that this individual distributed drugs such as MDMA (excise) and marijuana using the dead drop method for other dealers, then created its own Telegram channel and started selling drugs with crypto.

The court said it had shown "mercy" in imposing the sentence because the man "demonstrated regret for his actions." The presiding judge explained that the man had confessed his actions to the police shortly after being arrested by the authorities.