Rise in Drug Smuggling Linked to Cryptocurrency
South Korean customs officials have reported a concerning 18% increase in drug smuggling activities, attributing this rise to “the spread of crypto.” In the previous year, authorities seized an astounding 769 kg of narcotics, a significant increase from 624 kg in 2022. This alarming statistic also represents a staggering fivefold increase compared to 2020, when only 148 kg was intercepted. The growing trend highlights South Korea’s ongoing struggle with a crypto-fueled narcotics crisis.
Impact of Cryptocurrency on Drug Trafficking
According to the Korea Customs Service, the rise in narcotics smuggling is largely due to the ease of transactions facilitated by virtual currencies. The officials noted an increase in “small-scale drug smuggling” cases, which are often driven by high domestic drug prices in South Korea relative to other countries. The prevalence of non-face-to-face transactions using cryptocurrencies is making it easier for traffickers to operate.
Staggering Value of Seized Narcotics
Data compiled by lawmaker Jeon Yong-gi of the National Assembly’s Land, Infrastructure and Transport Committee reveals that South Korean law enforcement seized narcotics worth approximately $45.6 million last year. Much of this narcotics is believed to be meant for sale on platforms like Telegram, where dealers widely advertise their services. Payments for these drugs are commonly accepted in Bitcoin and other cryptocurrencies, with deliveries made through dead-drop methods in public areas.
The Role of Telegram in Drug Distribution
Media reports have indicated that Korean-language Telegram groups have transformed into a “crypto-powered department store” for young buyers seeking narcotics. This trend underscores the concerning intersection of digital currencies and illicit drug trafficking. In a recent incident, South Korean police investigated a man who parked his car at a police station while allegedly under the influence of drugs, further highlighting the real-world effects of this crisis.
Methods of Drug Trafficking: An Overview
Lawmaker Jeon Yong-gi’s office analyzed data from the Korea Customs Service and Incheon International Airport Corporation, revealing that customs agents intercepted 327 kg of narcotics shipped through international mail services last year. Additionally, 275 kg of drugs were concealed within express cargo containers, while another 148 kg was seized from air travelers arriving in South Korea.
Types of Drugs Seized
The seizures included 438 kg of methamphetamines, alongside smaller amounts of other substances such as ketamine, marijuana, and cocaine. As of July 2024, customs officials had intercepted 377 kg of narcotics, which constitutes about 49% of the total seized throughout the entire previous year. This suggests that the narcotics epidemic in South Korea shows no signs of abating.
Call for Action from Lawmakers
South Korean lawmakers, including Jeon Yong-gi, have called for urgent action from law enforcement agencies to tackle this worsening situation. Jeon emphasized the need for proactive measures to ensure that drugs do not become a commonplace issue in society, highlighting the importance of controlling the flow of narcotics exacerbated by the crypto landscape.