Prosecutors in Columbia say they’ll put money into crypto tracking tools – and also have claimed that they’ll begin using these innovative methods to crack lower on money-washing, crypto-powered drug deals, and kimchi premium buying and selling.
Based on Kookmin Ilbo, the final Prosecutors’ Office from the Republic of Korea (SPO) stated it had been prepared to buy “tracking” software that will allow it to monitor crypto transactions to “investigate cases involving cryptocurrencies.”
The press outlet described that certain of their new “trackers” is “capable from the real-time monitoring of transactions for cryptocurrencies for example bitcoin (BTC).” Prosecutors also mentioned that tools they’d buy may help them “extract correlation data in multiple transactions,” and allow them to take a look at wallet and exchange-related transaction histories.
Prosecutors described the tools would allow them to “check when, with whom, and also to where cryptocurrency has been sent.”
Fight against Kimchi Premium Traders & Crypto-powered Drug Deals
Prosecutors are presently investigating about $7 billion price of the things they suspect to become unlawfully remitted, crypto-linked foreign currency transactions. Point about this, they feel, was sent abroad by illegal kimchi premium traders who bought low-cost BTC from over-the-counter traders in China and japan before “dumping” the coins on domestic exchanges for gains of 30% or even more.
Using “shell companies” like a front, participants have then allegedly used funds to purchase semiconductors and gold and silver from overseas vendors.
The prosecution can also be keen to shut lower systems of drug traders who utilize darkweb portals and also the Telegram chat application to purchase and sell narcotics.
Probes into both kimchi premium traders and drug rings are sill ongoing with the regulatory the Financial Supervisory Service and also the National Tax Service. A quantity of crypto-using drug offenders happen to be charged, however the search continues for darkweb operators and numerous suspected drug dealers.
Based on data collected through the National Police Agency making public through the MP Kang Seon-woo from the Democratic Party, the amount of domestic drug offenders using cryptoassets elevated over x8 from 2018 to a minimum of 696 in August this season.
