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South Korea busts alleged $102 million crypto laundering scheme: report
South Korean customs investigators have disrupted an international money laundering network that allegedly processed 148.9 billion won ($101.7 million) using cryptocurrency and the domestic banking system. The Korea Customs Service (KCS) said Monday that it has referred three individuals to prosecutors for alleged violations of the Foreign Exchange Transactions Act, Yonhap news agency reported. According to the report, the agency alleges that the ring operated from September 2021 through June 2025, moving funds under the guise of legitimate expenses like cosmetic surgery or tuition. To evade detection, the suspects ... (full story)
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