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Bitcoin-powered darknet drug dealer jailed in South Korea

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A drug dealer who used a dark web portal to exchange narcotics for Bitcoin (BTC) has been sentenced to jail and suspended sentences by a South Korean court after dozens of arrests earlier this month.

Two separate crackdowns — one in the capital Seoul and the other in Gyeongsangbuk-do — have seen more than 200 people linked to Telegram Arrested for buying or selling drugs such as ketamine, marijuana and ecstasy (ecstasy) messenger apps, bitcoin wallets and dark web portals charge users to use their services.

Newsis reports that four people – aged between 34 and 36 but unnamed for legal reasons – are in the northern part of Seoul A branch of the court was sentenced. The presiding judge sentenced 10 months to one year of imprisonment (probation) and two years of probation. The four were fined up to $18,000 and ordered to take a 40-hour “medication course.”

Four use the “die-for” method to trade medicines – the customer pays for the purchase in advance. The dealer will then visit a pre-agreed location in the public area to drop off the drug bag. Once the dealer leaves the site, buyers will be instructed to visit these locations and pick up their order.

Searching for darknet operators who are keen on Bitcoin

The court saw evidence of bitcoin transactions between individuals and showed evidence from a number of BTC wallets.

Prosecutors claim the men have been using the platform to trade drugs since at least 2018.

Police claim they have new crypto transaction tracking technology and promise to use these solutions to put an end to Bitcoin and altcoin driven crime.

However, their search for darknet portal operators is still ongoing – operators that have so far proved elusive .

Officials believe these operators are linked to the Seoul nightclub scene and that they have a reference to a specific p BTC that they allegedly have Use it as an unofficial “currency”.

More arrests are expected in the coming weeks as officials elsewhere in the country continue to investigate.



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