South Korean "Drug Lord" Park Wang-ryeol transferred to prosecutors; authorities to investigate his bitcoin transaction records

Foresight News reported, citing News1, that the "drug lord" Park Wang-ryeol (47 years old), who had previously distributed large quantities of drugs from the Philippines into South Korea, was transferred to the South Korean prosecution on April 3. Park Wang-ryeol is suspected of smuggling and selling drugs in South Korea from November 2019 to July 2024. He collected drug transaction funds via bank transfers or Bitcoin electronic wallets, with confirmed illegal proceeds totaling approximately 6.8 billion KRW (about 4.509 million USD), and the overall scale of the crime reaching 13.1 billion KRW (about 8.686 million USD). South Korea's joint government task force on drug crime will focus on tracking his hidden assets and conduct an in-depth analysis of suspected criminal Bitcoin transaction records.