South Korean Police Arrest 34 in Swoop on Crypto-powered Drugs Smuggling Ring

South Korean authorities have made a major breakthrough in their fight against cryptocurrency-powered drug smuggling. In a recent raid, police arrested 34 individuals suspected of being part of a drug trafficking ring that used cryptocurrencies to facilitate their illegal activities. The seizure included 90,000 doses of drugs, such as crystal meth, synthetic marijuana, and ketamine. The ring, reportedly led by two South Korean nationals, employed Vietnam-based smugglers to conceal the drugs within cosmetics products, which were then transported to South Korea via international courier services. The narcotics were sold online to buyers who paid in cryptocurrency, and the group used Telegram as a communication tool. The police investigation is still ongoing, with suspicions that others, including overseas suppliers, may be involved. This significant operation demonstrates South Korea’s commitment to combatting the rise in cryptocurrency-related crimes and underscores the need for continued efforts to prevent the illicit use of digital currencies.