Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
© 2026 Index.vn
South Korean authorities have taken custody of alleged “drug lord” Park Wang-yeol, extradited from a Philippine prison where he was serving a 60-year sentence for the 2016 “sugarcane field” triple homicide. Park, believed to be 47, is now set to face new narcotics and money-laundering charges in South Korea.
Prosecutors and police say Park is suspected of running a drug trafficking ring from inside his Philippine cell, coordinating shipments of “large quantities” of methamphetamine and other narcotics into South Korea using encrypted apps. Korean media summaries cited by outlets including the Dong-A Ilbo report that officials estimate he oversaw a monthly drug business worth roughly 30 billion won (about $22 million), effectively turning prison into a command center.
The Korean Drug Crime Joint Investigation Headquarters, a joint task force of prosecutors and police, said tracing Park’s financial footprint will rely heavily on on-chain analysis of Bitcoin wallets believed to have received drug proceeds.
Investigators say confirmed criminal takings in the current indictment total roughly 6.8 billion won (just over $5 million). They also told domestic media they suspect the true scale of assets moved through crypto wallets between November 2019 and July 2024 is “several times larger,” while searching for far larger hidden holdings beyond the amounts currently charged.
The extradition places Park under a joint drug crime task force in South Korea, where authorities will pursue both narcotics allegations and related financial crimes. The case centers on whether Park used encrypted communications to coordinate cross-border drug shipments and whether proceeds were routed through Bitcoin-linked wallets that can be reconstructed through blockchain analysis.
By focusing on Bitcoin wallet activity, investigators aim to quantify the proceeds tied to Park’s alleged trafficking operation and identify additional assets that may not be reflected in the current indictment. The approach highlights how Korean law enforcement is using blockchain forensics to unwind complex, cross-border narcotics networks.

In brief\n\nBitcoin dropped to about $93,000, falling back below the EMA50 and putting its recent golden cross at risk of invalidation. The global crypto market cap stands at $3.15 trillion, down 2.38% in 24 hours. On Myriad Markets, 82% of the money is betting on Bitcoin pumping to $100K before…