A South Korean drug lord, born in the 2000s, has been sentenced to 20 years in prison and fined $4.2 million by the Ulsan District Court for laundering millions using Bitcoin. The court found that the individual operated drug sales channels via Telegram since March 2020, primarily dealing in drugs smuggled from Vietnam.
The operation involved using international couriers and 'dead drops' for distribution, with all transactions conducted in cryptocurrencies like Bitcoin. The group laundered approximately $4 million through these methods. Three accomplices received prison terms ranging from 30 months to three years.
South Korean Drug Lord Sentenced to 20 Years for Bitcoin Money Laundering
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