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BREAKING: South Korea Busts $102M Crypto Laundering Ring
3 Chinese nationals charged for moving $102M through illegal crypto channels from 2021-2024.
The scheme:
→ Payments via WeChat Pay & Alipay
→ Bought crypto on foreign exchanges
→ Transferred to Korean wallets
→ Disguised as "cosmetic surgery fees"
South Korea flagged 36,684 suspicious crypto transactions in 2025, more than the last 2 years combined.
Regulators are catching up. Illicit actors are running out of places to hide.