Gate News: On March 19, Seoul police uncovered a family money laundering case involving an unregistered virtual asset exchange. The criminal group consists of 19 members, mostly family members, operating in the Myeongdong area of Seoul. The group converted large amounts of cash obtained from telecom scams into Tether (USDT) and transferred it overseas, with the total involved estimated to reach hundreds of billions of Korean won. During the investigation, police seized approximately 6 billion Korean won in criminal assets, including 4.05 billion won in cash, 1.5 billion won in silver bars, and 500 million won in gold bars. This operation highlights South Korea’s ongoing efforts to combat illegal financial activities involving cryptocurrencies.
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