Thursday, September 19, 2024 – South Korean drug smuggling has surged up to 18% in 2023, spurred by crypto payments, South Korean customs announced on September 9. 1
Aided by the internet and “virtual currency,” small-scale drug smuggling in South Korea has risen, providing the dealers with a cloaked environment for transactions, the customs officials said.
Officials said that Korean Telegram Groups have been a safer space for narcotic traffickers to reach the Korean youth community, added to it by the availability of crypto.
It is reported that $45.6 million worth of narcotics seized by customs in 2023 had been planned to sell via Telegram.
BTC and other tokens have been used as payment methods by the drug dealers, the official said.
Then, they chose public spots in distributing the drug to the clients.
Philopon was the most seized drug type, along with ketamine, marijuana, and cocaine, counting 769 kg as the total seized amount.
International mail was the major mode of drug smuggling, the report said.
- Cryptonews.com: https://cryptonews.com/news/south-korean-customs-service-blames-crypto-for-769kg-drug-smuggling-haul/[↩]
