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South Korean "drug lord" Park Wang-ryeol transferred to prosecutors, authorities will investigate Bitcoin wallet transaction records.
Deep Sea TechFlow message. On April 3, according to a report by South Korea’s News1, the Korean drug boss Park Wang-烈 (phonetic transliteration) who was brought back from the Philippines has been transferred to South Korea’s Joint Investigation Headquarters for Government Agencies on Drug Crime. The authorities will focus on tracking his hidden funds and Bitcoin transaction records, and will proceed with arresting related accomplices.
Park Wang-烈 is accused of continuously smuggling and selling drugs in South Korea between November 2019 and July 2024. The confirmed criminal proceeds are about 6.8 billion won, and other drugs such as methamphetamine (ice) worth about 6.4 billion won (12.7 kilograms) were also seized during the smuggling process, for a total case amount of about 13.1 billion won.
Because outsiders believe the above amounts are inconsistent with his long-term operating scale, Heesom-Search Headquarters will focus on investigating his hidden assets. Park Wang-烈 previously received drug sale proceeds using non-discount deposits and Bitcoin wallets. The authorities plan to analyze the on-chain transaction records of the Bitcoin wallets involved.