CryptoMediaClub
Sunday, August 30, 2026
  • 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
129
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

UAE “Spy Sheikh” Behind Trump Crypto Bank: 49% Ownership, $500M and Questions MAGA Can’t Avoid
All news

UAE “Spy Sheikh” Behind Trump Crypto Bank: 49% Ownership, $500M and Questions MAGA Can’t Avoid

29.08.2026
0

Sheikh Tahnoon bin Zayed al Nahyan and co-investors are behind an entity that owns 49% of the holding company created...

Read moreDetails
XRP Price Prediction: Momentum and $1.40 Floor to Hold

XRP Price Prediction: Momentum and $1.40 Floor to Hold

29.08.2026
Bitcoin Faces a Dual Test From Dealer Hedging and the Fed

Bitcoin Faces a Dual Test From Dealer Hedging and the Fed

29.08.2026
Trump Crypto Empire Faces Scrutiny Over 49% Saudi Linked Stake in New Bank

Trump Crypto Empire Faces Scrutiny Over 49% Saudi Linked Stake in New Bank

29.08.2026
Is Crypto Back? Bitcoin Holds Near $80K as ETF Inflows Break August Record and LiquidChain Nears $1M

Is Crypto Back? Bitcoin Holds Near $80K as ETF Inflows Break August Record and LiquidChain Nears $1M

29.08.2026
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

Bitcoin makes play for $30k, leading to $145M liquidations

Bitcoin makes play for $30k, leading to $145M liquidations

3 years ago
XRP Price Prediction: Can XRP Crack $1.20 Before Clarity Act?

XRP Price Prediction: Can XRP Crack $1.20 Before Clarity Act?

2 months ago
You Will Not Like Where Google Gemini AI Predicts Bitcoin Price Going in 2026

You Will Not Like Where Google Gemini AI Predicts Bitcoin Price Going in 2026

2 months ago

The Share of Aussie HODLers is Back to 2021 Levels (Study)

3 years ago

Categories

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

Highlights

Bitcoin’s failed $81,000 breakout just put $75,000 back on the table

UAE “Spy Sheikh” Behind Trump Crypto Bank: 49% Ownership, $500M and Questions MAGA Can’t Avoid

XRP Price Prediction: Momentum and $1.40 Floor to Hold

Crypto ETFs appeared to hit $10B in hours, but filing data exposes where that money really came from

Bitcoin Faces a Dual Test From Dealer Hedging and the Fed

Trump Crypto Empire Faces Scrutiny Over 49% Saudi Linked Stake in New Bank

Trending

Coinbase’s $104M US500 trading spike hits an early reality check
Analysis

Coinbase’s $104M US500 trading spike hits an early reality check

30.08.2026
0

Coinbase US500 futures reached a $100 million milestone, giving the exchange an early test of whether a...

Bitcoin faces a new macro test as Fed Chair Kevin Warsh highlights sticky inflation metrics

Bitcoin faces a new macro test as Fed Chair Kevin Warsh highlights sticky inflation metrics

29.08.2026
Bitcoin miners are no longer pure crypto proxies and are morphing into high-performance computing hubs

Bitcoin miners are no longer pure crypto proxies and are morphing into high-performance computing hubs

29.08.2026
Bitcoin’s failed $81,000 breakout just put $75,000 back on the table

Bitcoin’s failed $81,000 breakout just put $75,000 back on the table

29.08.2026
UAE “Spy Sheikh” Behind Trump Crypto Bank: 49% Ownership, $500M and Questions MAGA Can’t Avoid

UAE “Spy Sheikh” Behind Trump Crypto Bank: 49% Ownership, $500M and Questions MAGA Can’t Avoid

29.08.2026
  • 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