Seven Arrested in South Korea for Laundering $67 Million via Crypto
- —Seven people detained, including a 40-year-old organizer
- —93.4 billion won ($67 million) laundered from June 2024 to February 2025
- —Five shell gift certificate trading firms used in Seoul and Gyeonggi Province
- —Funds came from operators of investment chat rooms and online shopping fraud
Why it matters: The case highlights the use of cryptocurrencies to launder large sums and increases pressure for regulation in South Korea.
Source: Bloomingbit