South Korea Busts Alleged $102M Crypto Laundering Scheme
South Korean authorities just broke up a huge international crypto laundering ring that shuffled around $101.7 million, about 148.9 billion won, through a pretty elaborate cross-border setup. Honestly, this is one of the biggest crypto crime busts the country has seen in years.
The Korea Customs Service said they’ve handed over three people, all Chinese nationals, to prosecutors. They’re suspected of breaking the Foreign Exchange Transactions Act. Officials say this operation ran from September 2021 up until June 2025, moving dirty money through a mix of foreign crypto accounts and South Korean banks to hide where the cash really came from.
How the Scheme Allegedly Worked
Investigators say the suspects took advantage of just how tough…
