Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    South Korea ‘Blighted by Crypto-powered Drug Pollution’ – Report

    • February 2, 2024

    South Korea’s crypto-powered drug trading epidemic is seeing the country become “polluted” with dead-dropped narcotics, a new report has claimed.

    Per Ilyo Shinmun, a 59-year-old man who was arrested for drug offenses told police that he had not bought the narcotics he was caught taking.

    Instead, the man claimed that he found the drugs – methamphetamine and cannabis – hidden on a hill in Gangwon Province.

    Police officers have yet to authenticate the veracity or otherwise of his claim. But, the media outlet noted, the claims are not implausible.

    This is especially true when considering the recent sharp uptick in crypto-related drug criminals who use public spaces to dead drop narcotics.

    South Korea Wages ‘War’ on Crypto-powered Drug Crimewave


    President Yoon Seok-yeol has claimed that the country is now at war with crypto-powered drug traders.

    Using Telegram as a communication platform and cryptoassets as a payment tool, teenagers as young as 14 are buying and selling narcotics online.

    Dealers offer “delivery” in the neighborhood of the buyer’s choosing. Buyers then transfer crypto to the dealers’ wallets.

    And a few hours later, police say, dealers contact buyers to explain where their drugs are hidden.

    Typically, the report’s authors explained, dealers choose public areas such as apartment complexes.

    And they often choose to leave drugs in mailboxes, electricity, water, and gas meters, or drainpipes.

    Other popular spots include “hospital restrooms, public parking lots, under store signboards, basement window frames, electrical wiring, and behind doorknobs in public spaces.”

    A water meter outside a South Korean building. (Source: Jang Sang-mi [CC BY 2.0])

    Police Concerned as Crypto-powered Drug Epidemic Intensifies


    The media outlet gave the example of a recent case in Daejeon’s Eastern District. Here, a resident called the police when they spotted “a stranger searching several mailboxes” in their apartment.

    Officers arrived at the scene and discovered that the person in question was a drug buyer, and later found “30 doses of drugs wrapped in black tape inside one of the mailboxes.”

    A bank of South Korean apartment complex mailboxes. (Source: MBN/YouTube/Screenshot)

    In another case reported on January 12, a citizen in Seoul came to a police station in the Jungnang District to explain that they had found what looked like a lost “coin purse.”

    After opening the wallet, the citizen said they had found a bag with a “strange powder inside.”

    Officers recognized that the powder was methamphetamine. They used CCTV footage to identify the wallet’s owner, and found this individual with “bags containing more” of the substance in their pockets.

    The report’s author warned:

    “Nowadays, we live in a world where you can even find drugs in a wallet you find at the side of the road. If you just […] pick it up and then leave it on the side of the road because something doesn’t feel right, you could find yourself the subject of a drug-related investigation.”

    Police officers have also complained that drug dealers are using “flower beds outside buildings, gas meter boxes, outdoor air conditioning units, and electric poles” as hiding spots.

    Officers added that “poorly maintained buildings” used to be “frequent trading spots.” But they conceded that “now, almost all everyday spaces are a drug distribution route.”

    Investigators claimed that in some instances, drugs had been hidden “on the same street as major courthouses” or “outside elementary schools.”

    Crypto-powered Drug Dealers ‘Infiltrate the Military’


    Armed forces spokespeople added that an increasing number of military personnel have been caught buying and selling drugs using crypto.

    In some instances, dealers snuck into army bases and other military facilities to leave bags of drugs for serving conscripts.

    South Korean conscripts during a military training exercise. (Source: Republic of Korea Armed Forces [CC BY-SA 2.0])The Ministry of Defence’s Military Manpower Administration has responded by announcing plans to conduct drug tests on conscripts during the screening process.

    Courts have responded with increasingly heavy sentences. Earlier this month a convicted crypto-powered drug dealer was jailed for seven years in Busan. An accomplice received a 2.5-year jail term.

    The post South Korea ‘Blighted by Crypto-powered Drug Pollution’ – Report appeared first on Cryptonews.

    Previous Article
    • Editor's Pick

    Biden imposes sanctions on Israeli West Bank settlers

    • February 2, 2024
    View Post
    Next Article
    • Investing

    Three Arrows Co-Founders’ OPNX Exchange to Cease Operations

    • February 2, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.