Gov't to develop system to crack down on crypto-linked drug dealing

▲ This undated composite image shows a symbol of Bitcoin placed over an indoor cannabis farm. (Yonhap)

drug trafficking-monitoring system

Gov't to develop system to crack down on crypto-linked drug dealing

By Kang Yoon-seung

SEOUL, Feb. 4 (Yonhap) -- South Korea has launched a project to develop a monitoring system aimed at curbing drug trafficking conducted via cryptocurrencies on dark web platforms, in response to evolving tactics of drug dealers, the science ministry said Wednesday.

The Ministry of Science and ICT and the National Police Agency said they plan to select a research institution to develop the system under a three-year project with a budget of 13.2 billion won (US$9.8 million), with applications open through March.

The project will focus on analyzing patterns across anonymous networks to identify those behind illegal drug trafficking posts.

The system will aim to detect patterns in the circulation of illegal funds used for drug transactions, while automatically collecting slang and expressions used in advertisements with an artificial intelligence (AI) program.

"Securing cutting-edge analytical technology is essential to responding to new drug-related crimes utilizing the anonymous environment created by the dark web, Telegram and others," the science ministry said in a release.

"We aim to continue efforts to build capacity to address new types of crimes through science and technology," it added.

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