Drug Proceeds of 1 Billion Won 'Laundered' with Virtual Assets…40 People, Including Agents, Apprehended

Drug Proceeds of 1 Billion Won 'Laundered' with Virtual Assets…40 People, Including Agents, Apprehended

40 people, including operators of agencies that laundered drug transaction proceeds into virtual assets and drug offenders, were apprehended by the police.

The Busan Metropolitan Police Agency announced on the 14th that it had sent six operators of virtual asset transaction agencies, including Mr. A, to the prosecution without detention on charges including violating the Act on Reporting and Using Specific Financial Transaction Information.

Mr. A and others are suspected of laundering 1 billion won in cash, sent by 32 drug purchasers between September last year and April this year, into virtual assets such as Bitcoin, and then transferring it to two drug sellers, including Mr. B, via Telegram.

The commission earned by Mr. A and others was about 100 million won, which is 10% of the transferred amount.

The police confirmed that drug offenders were trading narcotics through virtual asset transaction agencies to evade detection by investigative agencies and launched an investigation.

As a result, drug sellers were apprehended during the process of analyzing transaction details of Mr. A and others.

The police seized narcotics worth 130 million won, including 330g of ketamine, 3.4g of methamphetamine, 8.77g of synthetic cannabis, and 5 ecstasy pills.

Subsequently, 32 individuals who purchased narcotics through virtual asset transaction agencies were apprehended sequentially.

Their ages ranged from 20s to 30s, and they had various occupations such as office workers, entertainment industry workers, and self-employed individuals.

The police arrested and sent Mr. B, one of the 34 drug offenders, to the prosecution on charges of violating the Narcotics Control Act, and sent the remaining 33 without detention.

A police official explained, "We have been conducting crackdowns since the second half of last year by establishing a virtual asset investigation team," and added, "We have preserved 105 million won worth of criminal proceeds before indictment."