• South Korean police charged 23 people over an alleged crypto laundering network linked to a Cambodia-based phishing operation.
• Authorities said the group moved US$11.1 million through Tether using domestic and overseas crypto exchanges.
• Investigators said the case highlights ongoing concerns about cross-border crypto fraud and money laundering networks.

South Korean police charged 23 people accused of laundering funds linked to a Cambodia-based phishing operation that allegedly moved US$11.1 million through cryptocurrency transactions.

Authorities said the group purchased Tether, transferred it between domestic and foreign exchanges, and converted the funds into foreign currency or Korean won between February 2024 and April 2025.

“Acting…