TechFlow News, April 3: According to South Korea’s News1, Park Wang-ryeol—a South Korean drug trafficker apprehended in the Philippines—has been transferred to South Korea’s Joint Government Investigation Unit for Drug Crimes. Authorities will focus on tracing his concealed funds and Bitcoin transaction records, and are preparing to arrest his accomplices.
Park Wang-ryeol is accused of continuously smuggling and selling narcotics into South Korea from November 2019 to July 2024. His confirmed illicit proceeds amount to approximately 6.8 billion KRW. Additionally, authorities seized drugs—including 12.7 kilograms of methamphetamine—valued at roughly 6.4 billion KRW during transit. The total value involved in the case is estimated at about 13.1 billion KRW.
Given that the above amounts appear inconsistent with the scale and duration of his operations, the Joint Investigation Unit will prioritize uncovering his hidden assets. Park reportedly received payments from drug sales via passbook-less bank deposits and Bitcoin wallets; authorities plan to analyze on-chain transaction records associated with the implicated Bitcoin wallets.
