South Korea’s Customs Service has rewarded officials who stopped smugglers from illegally importing virtual currency mining equipment.
According to the news outlet Incheon Ilbo, Incheon Airport Regional Customs officials intercepted a smuggler from bringing about 1.4 million pieces of virtual currency mining hardware into South Korea.
The Customs Service announced that a supervisor named Seo Min-seop had “discovered a smuggler” attempting to “import virtual currency mining machines.”
The service said So was aware that the cargo’s customs documents had “disguised product names.”
There, they flagged the shipment and helped discover that the container was filled with unregistered and undeclared cryptocurrency mining equipment.
The service presented Mr. Cao with the “Distinguished Service Person” award in the “Special Customs Clearance” category at the award ceremony. An airport customs official said:
“We will continue to identify and recognize employees who have demonstrated excellence in customs administration. We want to recognize those who have contributed to the development of our agency.”
The service said Soh demonstrated “thorough intelligence analysis” skills and also contributed to “further discovery” of contraband.
South Korean customs launches ‘war’ against illegal cryptocurrency activities and drugs
The agency said it also rewarded other officers who intercepted “3.85 kg of methamphetamine.”
The drugs were found hidden in the luggage of an air traveler who arrived in Incheon on a flight from Cambodia.
🇰🇷 South Korea calls for regulation of virtual currency mixers, citing cases of illegal use
Learn more 👇
— Cryptonews.com (@cryptonews) January 15, 2024
Customs agents and police officers are waging what the president calls a “war” against virtual currency drug sales.
Teens and people in their 20s are smuggling drugs into the country and organizing dead drop-style drug “deliveries” using Telegram and Bitcoin (BTC).
In 2021, customs authorities said they tracked down undeclared “kimchi premium” transactions that generated profits worth about $4.38 million.
Late last year, customs officials arrested seven people in a raid on a “deliberate illegal gambling den” that was suspected of using USDT as a money laundering tool.