South Korean post-2000s drug lord sentenced to 20 years in prison for Bitcoin money laundering

The Ulsan District Court in South Korea sentenced a post-2000s drug lord to 20 years in prison and fined him $4.2 million. The drug lord has been operating multiple drug sales channels through Telegram since March 2020, trafficking drugs smuggled from Vietnam and distributing them through international express delivery and "dead throw" methods. The transaction payment and distribution commission are both completed through cryptocurrencies such as Bitcoin, and Bitcoin is used to launder drug funds, with a total amount involved of approximately 4 million US dollars. Three accomplices were sentenced to prison terms ranging from 30 months to three years.