South Korean Drug Dealers Arrested After Receiving Payments In DarkCoin Privacy Crypto Token
Drug Dealers In South Korea Arrested After Receiving Payments In Crypto
Drug dealers in South Korea have been arrested by local authorities after selling drugs online and accepting virtual currencies as payment. The information was released by the Korea Herald a few days ago.
According to the Seoul Central District Prosecutors’ Office, they informed about criminals that were selling drugs on the internet. These criminals were arrested, including the owner of the site, whose name is Shin.
These websites operating in the darknet have usually been accepting virtual currencies for goods and services offered. In order to access them, it is necessary to use special browsers such as Tor. Users and operators tend to have enhanced anonymity features.
Apparently, the website was able to attract several buyers during the last months. According to the report, the community had around 636 members and it sold drugs on 50 different occasions. This was the first time that South Korea shuts down a drug-dealing site on the darknet.
The owners of the site were using a virtual currency known as DarkCoin to sell drugs such as LSD or MDMA. At the same time, they were also selling cannabis and hashish. DarkCoin is a cryptocurrency that allows users to preserve their privacy when making transactions.
Back in October 2013, the FBI shut down the so-called Silk Road. The site was a black market that was selling illegal drugs and other illicit substances. The owner of the site, Ross Ulbricht is now sentenced to life imprisonment without the possibility of parole.
Virtual currencies have been used by criminals to move funds without being tracked. There are some privacy coins such as Monero (XMR) that protect users’ privacy and makes it more difficult for authorities to track transactions.