logo

Korean Customs Service Busts Illegal Foreign Exchange Case Using Virtual Assets, Involving Approximately 140 Billion Korean Won

By: theblockbeats.news|2026/01/19 14:30:15
0
Share
copy

BlockBeats News, January 19th. The Seoul Customs Office of the Korea Customs Service recently reported that a case of large-scale illegal foreign exchange using virtual assets has been transferred to the prosecutor's office. The investigation revealed that the implicated group conducted illegal foreign exchanges using domestic and overseas virtual asset accounts over the past 4 years, with a total amount of approximately 140 billion Korean won ($95 million), collecting transaction fees in the process, suspected of violating the Foreign Exchange Transaction Act.

The Customs Office disclosed that the group received client funds through WeChat Pay, Alipay, and other methods, purchased virtual assets in multiple overseas countries, transferred them to wallets within Korea, exchanged them for Korean won, and then withdrew cash. The individuals involved include three people, including a Chinese man in his 30s. The related funds were used for trade payments, duty-free purchases, tuition fees, as well as funds of unknown origin, as long as a transaction fee was paid to assist in the foreign exchange.

You may also like

Tom Lee's Ethereum Thesis: Why the Man Who Called the Last Cycle Is Doubling Down on Bitmine

Tom Lee is emerging as one of Ethereum’s most influential supporters. From Fundstrat to Bitmine, his Ethereum thesis combines staking yield, treasury accumulation, and long-term network value. Here is why “Tom Lee Ethereum” has become one of crypto’s most watched narratives.

Naval personally takes the stage: The historic collision between ordinary people and venture capital

Naval personally stepped in as the chairman of the USVC Investment Committee. This SEC-registered fund launched by AngelList attempts to bring top private tech assets like OpenAI, Anthropic, and xAI to the general public with a $500 entry threshold. It is not just a new fund, but a structural experi...

a16z Crypto: 9 Charts to Understand the Evolution Trends of Stablecoins

Stablecoins are evolving from trading tools into universal payment infrastructure, and this process is quieter and more thorough than most people expected.

Refutation of Yang Haipo's "The End of Cryptocurrency"

This may be the true test of cryptocurrency. It's not about whether the price has reached a new high, nor about who will achieve financial freedom in the next bull market, but rather whether, after all the grand narratives have been washed away by cycles, it can still leave behind some simpler, more...

Can a hairdryer earn $34,000? Interpreting the reflexivity paradox of prediction markets

Prediction markets are essentially betting on reality, and when participants can access or even influence this path earlier, the market no longer just reflects reality but begins to shape it in return.

6MV Founder: In 2026, the "landmark turning point" for crypto investment has arrived

"I will deploy funds in 2026, so I will tell you this is the best year in history."
The Joker is back
Bigger pools, auto-play, lucky buffs.
The Joker is backJoin now and grab your rewards.

Popular coins

Latest Crypto News

11:42

Hong Kong police have cracked a virtual currency "gold grain money laundering" fraud case, involving approximately 7 million Hong Kong dollars

According to the Hong Kong Wen Wei Po, the Hong Kong police have disclosed the resolution of a cross-border phone scam case, where a criminal group impersonated mainland officials, specifically targeting mainland students studying in the UK and Australia.The scammers falsely claimed that the victims...
11:42

RootData: CHEEL will unlock tokens worth approximately $2.82 million in one week

According to token unlocking data from the crypto asset data platform RootData, Cheelee (CHEEL) will unlock approximately 6.42 million tokens at 8:00 AM Beijing time on May 3rd, worth about 2.82 million USD.
11:42

Trump details the security incident at the dinner: does not believe the shooting is related to the conflict with Iran

According to Jinshi reports, U.S. President Trump stated in response to a reporter's question that the incident that occurred at the White House Correspondents' Association dinner that day was "completely shocking." He heard a noise but thought it was a tray falling to the ground."I was observing th...
10:42

DeFi United rescue latest progress: over 100,000 ETH raised

The DeFi United ecological rescue initiative led by Aave is ongoing. The Arbitrum DAO has released 30,765 ETH that was frozen after the rsETH incident on April 18. The designated donation address has accumulated a total of 100,360 ETH to address the collateral asset gap caused by the rsETH incident ...
10:42

Trump: Suggests continuing with the speech but will fully comply with the instructions of law enforcement

According to Jinshi reports, Trump stated that the Secret Service and law enforcement did an excellent job. They responded quickly and bravely. The shooter has been apprehended, and I suggest we "continue with the speech," but will fully comply with law enforcement's instructions. They (the dinner s...
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com