Two police officers in South Korea have been accused of taking bribes from illegal cryptocurrency exchanges to launder up to $186 million (about 249.60 billion won). Prosecutors accused the two officers of providing investigative intelligence to criminal gangs, assisting in unfreezing accounts, introducing lawyers and connecting other law enforcement officers in exchange for money. South Korean authorities have frozen about $1.10 million (1.50 billion won) of related assets.
The money laundering gang, in collaboration with CEO "A", recruited members between January and October 2024 to open cash exchange points disguised as "gift voucher shops" in busy areas such as Yeosan-dong, Gangnam District, Seoul, to exchange the proceeds of voice fraud into USDT stablecoins. The store even has a warning sign "Beware of voice scams" to hide people's ears.
Two South Korean police officers charged in 186 million-dollar cryptocurrency money laundering case
2025-11-28 06:53:40
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