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West TimelinesWest Timelines
Home»Business»Crypto
Crypto

South Koreans Can Now Shop at a Crypto-Powered Online Store Offering Narcotics

April 29, 2024No Comments2 Mins Read
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The media outlets have reported that Korean-language Telegram channels have become hubs for crypto-powered narcotics gangs, offering a wide range of drugs to young South Koreans. Despite President Yoon Suk-yeol’s call for an “all-out war” on crypto-powered drug trafficking, some channel operators seem to be openly taunting police who are monitoring their activities. Channels openly advertise nationwide drug deliveries and even taunt detectives by offering to help them make arrests. These Telegram channels have essentially become online “department stores” for young drug buyers, with operators posting pictures of drugs and taunting law enforcement.

Telegram channels have also become job agencies for young people seeking employment in the drug trade, advertising crypto-paying positions such as “dead-drop delivery person.” Dealers use dead-drop techniques to deliver narcotics by leaving bags of drugs in public places and informing buyers of the location. Recruiters behind these job advertisements are collecting confidential data from their staff, including social security numbers and family certificates. Despite successful police investigations and arrests, tracking down Telegram users remains challenging for law enforcement, leading them to invest in blockchain monitoring tools and surveillance.

Despite efforts by law enforcement, many Telegram channels continue to operate as playgrounds for drug suppliers, with a lack of success in tracking down users. Police have used IT solutions such as AI-powered drug monitoring software to comb through social media platforms for narcotics-related content. South Korean agencies have also sent officers overseas to work with drug agencies in Southeast Asia to combat the influx of drugs into the country. The government has increased the budget of the Supreme Prosecutors’ Office to combat crypto-powered narcotics-related crimes, but critics argue that more resources are needed as these crimes continue to increase.

The low cost of narcotics in Southeast Asia has made it an attractive option for smugglers to sell drugs in South Korea, leading to huge profits. While digital forensic technology has helped police in their investigations, it still has limitations, according to a lawyer. The challenges in combating crypto-powered narcotics crime in South Korea have led to delays in the retail expansion of a crypto exchange, as further communication with regulators is needed. Despite efforts to tackle the issue, the prevalence of drug trade on Telegram channels remains a significant concern for law enforcement in South Korea.

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