South Korean authorities have arrested 23 individuals linked to a Cambodian criminal organization for laundering approximately $11.1 million through USDT transactions. The Seoul Metropolitan Police Agency's Criminal Investigation Division revealed that the suspects used around 11,300 accounts to facilitate the laundering of illicit funds between February 2024 and April 2025. The operation involved trading USDT on both domestic and international cryptocurrency exchanges, connected to about 265 phishing and investment scams totaling an estimated $17 million.
In addition to these arrests, police have seized approximately 650 million won ($430,000) in criminal proceeds. However, the ringleader remains at large and is currently on Interpol's red notice list. Furthermore, 33 more individuals have been detained for providing illegal currency exchange services using USDT to tourists and acquaintances.
South Korean Police Arrest 23 in $11.1 Million USDT Money Laundering Case
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