CryptoMediaClub
Sunday, December 21, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

South Korean Police Arrest 70 in Raid on ‘Crypto-powered Drug Dealers’

10.07.2024
A A
0
124
VIEWS
ShareShare

South Korean police continue to wage war on crypto-powered drug crime, with officers in Seoul arresting 70 people.

Per Seoul Kyungjae, the group used Telegram chat rooms to advertise their services to drug buyers. They then allegedly sold narcotics for tokens including Bitcoin (BTC).

South Korean Police: Dead Drop Alerted Officers to Gang’s Operations

Officers said that a “group of 70 people” had “smuggled and distributed various drugs, including methamphetamine (crystal meth), ketamine, and synthetic marijuana.”

Police said the group had used “raw materials” sourced from Vietnam and operated a makeshift laboratory in South Korea. Here, police said, they “manufactured and stored” the finished narcotics.

Officers at the Gangdong Police Station in the east of Seoul announced on June 9 that they had charged the group with violating the Narcotics Control Act. Police said that 41 of the group were remanded in custody.

A spokesperson said the group began its operations in September 2023, and continued selling drugs until June 20 of this year.

Gangdong Police Station in Seoul, South Korea.
Gangdong Police Station in Seoul, South Korea. (Source: Vitzro2011 [CC BY-SA 3.0])

Police said the group raised over $4.3 million in profits from selling drugs to crypto-paying buyers.

And the spokesperson explained that a tip-off from a member of the public helped police launch the inquiry that resulted in their raids.

A citizen reported that they had seen “a young man” behaving in a “suspicious manner” in the flower bed of an apartment complex.

Officers responded by searching the area, where they eventually “discovered a white powder in a balloon.”

Narcotics confiscated by the police in their raids.
Narcotics confiscated by the police in their raids. (Source: Seoul Gangdong Police Station)

Police Make 40kg Drug Bust

Police then used CCTV footage from the area to track the individual down. They arrested them at an address in Ansan, Gyeonggi Province, “four days later.”

They then confiscated the suspect’s cell phone, which they used to trace details of a “non-face-to-face transaction.” This transaction appears to have been crypto-based.

Police then used this information to arrest a 23-year-old suspected ringleader, as well as a Telegram open chat operator (aged 21).

Officers said they found “approximately 2,000” of the group’s “drug hiding places.” This led them to confiscate a total of 40kg worth of narcotics.

The haul also included cannabis resin and other forms of marijuana, including liquid marijuana. It also included MDMA (ecstasy), LSD, and phencyclidine (angel dust).

Officers added that they had also confiscated over $7,200 worth of Bitcoin and “proceeds.”

Many Gang Members Remain at Large – Police

One of the group’s hideouts allegedly included a hole “in the ground by a river” in Anseong, Gyeonggi Province.

Police said they found liquid drugs hidden in shampoo bottles at several locations.

Several members of the alleged drug crime ring remain at large, including a second suspected “ringleader.”

Officers think this individual is currently in the Philippines. They say they are currently in the process of canceling their passport. Police say they are hoping Interpol will issue a red notice for this “ringleader.”

Another suspected “operator” of a Telegram drug sales channel also remains at large in South Korea, police said.

S. Korea, Thailand seize illegal drugs enough for over 2 mln people https://t.co/x6qF1C5HlE

— Yonhap News Agency (@YonhapNews) July 18, 2023

The spokesperson said that officers are also hunting for several suspected smugglers transporters and drug buyers.

Officers concluded by saying they had dealt “a blow to the drug distribution market” and had “blocked the distribution of large quantities of drugs” in South Korea.

Telegram a ‘Crypto-powered Narcotics Department Store’ as ‘Drug Pollution’ Spikes

South Korean media outlets this year have bemoaned a massive spike in “drug pollution,” with crypto-powered narcotics deaddrops taking place all over the nation.

They claim that citizens are now accidentally finding bags of drugs hidden in all sorts of urban areas, ranging from children’s playgrounds to neighbors’ letterboxes.

Media outlets have also claimed that Korean-language Telegram channels have become a “crypto-powered narcotics department store” for teens and twentysomethings.

A cursory Cryptonews.com search for common South Korean narcotics argot on Telegram and X (Twitter) returned hundreds of results.

16 indicted for smuggling illicit drugs from Cambodia to Koreahttps://t.co/UqPyJYqXWK

— The Korea Times (@koreatimescokr) July 2, 2024

Most directed users to Telegram open chat rooms, where it appeared drug dealers were offering “nationwide delivery” of the aforementioned narcotics.

Cryptonews.com also saw what appeared to be crypto wallet addresses, indicating that these “dealers” preferred payments in Bitcoin and other cryptoassets.

The post South Korean Police Arrest 70 in Raid on ‘Crypto-powered Drug Dealers’ appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Hilbert Group Acquires Enigma Nordic in $32M Crypto Trading Deal
All news

Hilbert Group Acquires Enigma Nordic in $32M Crypto Trading Deal

21.12.2025
0

Hilbert Group, a Swedish investment firm focused on algorithmic cryptocurrency trading, has acquired high-frequency trading platform Enigma Nordic in a...

Read moreDetails
Brooklyn Man Charged With Stealing $16M in Crypto From 100 Coinbase Users

Brooklyn Man Charged With Stealing $16M in Crypto From 100 Coinbase Users

21.12.2025
125 Crypto Groups Tell Congress Stablecoin Yield Ban Favors Big Banks

125 Crypto Groups Tell Congress Stablecoin Yield Ban Favors Big Banks

21.12.2025
Why LiquidChain’s Layer-3 Architecture Matters for Bitcoin and Solana Users

Why LiquidChain’s Layer-3 Architecture Matters for Bitcoin and Solana Users

21.12.2025
Address Poisoning Scam: One Copy-Paste Mistake Cost a Crypto Trader $50 Million

Address Poisoning Scam: One Copy-Paste Mistake Cost a Crypto Trader $50 Million

21.12.2025
Load More
Next Post
Argentinians Increasingly Hoarding USDT – Report

Argentinians Increasingly Hoarding USDT – Report

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Validator service to use API for ETH staking process

Validator service to use API for ETH staking process

3 years ago
Crypto Trade Coinbase Positive aspects Approval to Launch in Argentina

Crypto Trade Coinbase Positive aspects Approval to Launch in Argentina

11 months ago
Bitcoin Fog Mastermind Found Guilty in Historic Money Laundering Case

Bitcoin Fog Mastermind Found Guilty in Historic Money Laundering Case

2 years ago
Bitcoin Price Prediction: Global Bond Markets Are Collapsing – Is $150K BTC Now a Matter of When, Not If? 

Bitcoin Price Prediction: Global Bond Markets Are Collapsing – Is $150K BTC Now a Matter of When, Not If? 

4 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Why LiquidChain’s Layer-3 Architecture Matters for Bitcoin and Solana Users

Address Poisoning Scam: One Copy-Paste Mistake Cost a Crypto Trader $50 Million

Bitcoin’s inability to reclaim $90,000 exposes a deep structural fracture that could trap investors during the next unwind

XRP Price Prediction: Binance On-Chain Chart Flags Further XRP Downside — Is $1.50 the Next Support?

XRP Price Prediction: $2.17 Breakout or $1.77 Retest as Buyers Test Resolve

Solana Price Prediction: Why a $2,500 Vision Collides With a $140 Technical Test

Trending

Hilbert Group Acquires Enigma Nordic in $32M Crypto Trading Deal
All news

Hilbert Group Acquires Enigma Nordic in $32M Crypto Trading Deal

21.12.2025
0

Hilbert Group, a Swedish investment firm focused on algorithmic cryptocurrency trading, has acquired high-frequency trading platform Enigma...

Brooklyn Man Charged With Stealing $16M in Crypto From 100 Coinbase Users

Brooklyn Man Charged With Stealing $16M in Crypto From 100 Coinbase Users

21.12.2025
125 Crypto Groups Tell Congress Stablecoin Yield Ban Favors Big Banks

125 Crypto Groups Tell Congress Stablecoin Yield Ban Favors Big Banks

21.12.2025
Why LiquidChain’s Layer-3 Architecture Matters for Bitcoin and Solana Users

Why LiquidChain’s Layer-3 Architecture Matters for Bitcoin and Solana Users

21.12.2025
Address Poisoning Scam: One Copy-Paste Mistake Cost a Crypto Trader $50 Million

Address Poisoning Scam: One Copy-Paste Mistake Cost a Crypto Trader $50 Million

21.12.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz