PANews January 14 News, according to DL News reports, a Korean “post-00s” drug lord involved in money laundering and drug trafficking using cryptocurrency was sentenced to 20 years in prison by the Ulsan District Court and fined $4.2 million. His three accomplices were sentenced to between 30 months and three years in prison.
The court found that the drug lord operated multiple drug sales channels via the Telegram chat application starting from March 2020, mainly selling drugs smuggled from Vietnam. His gang used international courier services to smuggle drugs and distributed them through a “dead drop” method (hiding drugs in public places and notifying buyers to retrieve them). Transaction payments and distribution commissions were all conducted using cryptocurrencies such as Bitcoin, and Bitcoin was also used to launder the drug proceeds, involving approximately $4 million.
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