1 Billion Won in Drug Money 'Laundered' with Virtual Assets... 40 People, Including Agents, Apprehended

1 Billion Won in Drug Money '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 has sent 6 operators of virtual asset transaction agencies, including Mr. A, to the prosecution without detention on charges including violation of the Act on Reporting and Using Specified Financial Transaction Information.

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

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

The police confirmed that drug offenders were trading narcotics through virtual asset transaction agencies to avoid tracking 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 confiscated narcotics worth approximately 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 age range was in their 20s and 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 established a virtual asset investigation team since the second half of last year and have been cracking down on such activities," adding, "We have preserved about 105 million won in criminal proceeds before indictment."