The Seoul Central District Prosecutor’s Office released information regarding nine people who were using cryptocurrency to sell narcotics on the dark web. The drug dealers reportedly used a cryptocurrency named DarkCoin and were growing Cannabis, selling Hashish, LSD, and MDMA. All nine people in the drug ring have been arrested by the local police.
The Korea Herald reported that the website that sold the drugs had quite a strong community and active userbase: almost 650 from March to November and almost 50 drug deals had gone down on the website to make deals.
The website has since been taken down and Korean media outlets are reporting this drug bust as the first time that a drug trafficking website operating on the dark web has been identified. As such, this was a significant step forward for South Korea’s cybercrime law enforcement units, especially for a country that is experiencing such rapid technological growth that many still can’t keep up to it.
The authorities tracked down the illicit transactions after reviewing the suspect’s phones and computers. The dealers had allegedly managed to deal drugs worth over 8-10 million Korean Won ($7,117-$8,897).
This can be considered as an alert that cybersecurity authorities across the world are ramping up their capabilities and starting to keep a closer look on cryptocurrency transactions, especially on the dark web.
However, tracking someone on the dark web is an incredibly difficult task, but as soon as the dealers slipped up and made a mistake, the prosecutors swooped in.
This is also why the US government tried to find ways to track privacy coins such as Monero and more.