South Korea uncovers $8.7B in crypto-based illegal forex schemes, 67% of all cases
- —Crypto-linked schemes totaled 12.14 trillion won over eight years
- —Crypto accounts for 51% of cases and 67% of the total value
- —27 of 34 foreign offenders were Chinese nationals
- —Overall, 177 illegal forex cases worth 18.03 trillion won were detected
Why it matters: The findings intensify scrutiny of crypto channels in Asia, with China identified as the main route for illicit transfers, raising the risk of tighter rules for exchanges and P2P services.
Source: Bloomingbit