Two South Korean police officers have been charged and suspended for allegedly accepting bribes in a $186 million crypto money laundering scheme linked to voice phishing. Prosecutors accuse the officers of providing investigation details, assisting in unfreezing accounts, and connecting operators of illegal crypto exchanges with lawyers in exchange for money and luxury goods.
The criminal group involved reportedly set up 'crypto exchange points' disguised as gift card shops in Seoul and other locations to convert fraud proceeds into USDT. South Korean authorities have frozen approximately $1.1 million in illegal assets and estimate the group's total earnings at around 11.2 billion won ($8.4 million).
South Korean Officers Charged in $186 Million Crypto Money Laundering Case
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