South Korean police, using programs to track illegal crypto transactions, have revealed a large drug trafficking scheme for bitcoins and altcoins.
The National Police Department of Gyeongbuk city in South Korea reported that law enforcement officers detained 82 suspects of selling and buying drugs for cryptocurrency. According to law enforcement officers, four twenty-year-old young men in May last year created a telegram channel for drug trafficking and posted ads on it “selling methamphetamine and synthetic cannabis.”
Buyers of drugs, mostly young people from 20 to 30, transferred bitcoins and altcoins to the wallets of sellers, and the sellers left the drugs in a designated place. Trade was carried out throughout the country, including the cities of Gyeonggi-do, Busan and Gyeongnam.
The suspects violated the Drug Control Act, police say. The leadership of the Gyeongbuk National Police Agency’s Drug Crime Investigation Division promised to actively search for drug offenders not only in clubs and entertainment venues, but also on the Internet, where the number of traffickers has been growing rapidly in recent years.
The South Korean police claim that they are stepping up the fight against the sale of drugs for cryptocurrencies, using the latest methods in investigations, such as the “Dark Web Illegal Information Tracking System” and the “Digital Asset Tracking Program”.
Last month, law enforcement agencies in the South Korean city of Gunpo, as part of an initiative to confiscate cryptocurrency from debtors, seized digital assets from a traffic offender in payment of a fine.
Source: Bits
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