South Korean ‘Crypto Drug Dealer’ Sentenced to 7 Years in Jail
A South Korean court has sentenced a drug dealer, known as “A”, to seven years in prison for selling narcotics to customers who paid in cryptocurrency. The individual was also ordered to pay a fine of over $9,000 and attend a narcotics treatment program. Although A denied selling drugs, they admitted to using narcotics themselves. Prosecutors stated that A distributed drugs using “dead drop” methods, hiding bags of narcotics in water meters and public flower beds. A requested payment in virtual currency to avoid detection by investigators. The prosecution also revealed that A collaborated with another drug dealer to sell drugs in small quantities in Seoul.
South Korean authorities have been aggressively combating youth drug crimes powered by cryptocurrencies. Police have discovered networks of crypto-holding teenagers and young adults who use darkweb portals to find drug dealers. However, it has been observed that certain South Korean drug dealers openly advertise their services on social media platforms like Twitter, redirecting potential customers to private messaging apps like Telegram to discuss payment. Once payment is received, the dealers make dead drops in the customers’ chosen districts, providing photographs of the drop locations and instructions for safe pickup.
Last year, one of A’s accomplices received a sentence of two years and six months in prison for distributing narcotics using dead drop methods. This individual later started selling drugs for cryptocurrency through their own Telegram channel. The court showed leniency in their sentencing due to the defendant’s remorse and immediate confession to the police upon arrest.
The fight against crypto-powered drug crime in South Korea continues as authorities crack down on these illicit activities.