South Korean police have arrested 23 suspects in a USDT money laundering case involving 11.1 million dollars
By: rootdata|2026/06/17 04:45:01
0
Share
According to The Block, the Criminal Investigation Department of the Seoul Police Agency in South Korea has arrested 23 suspects accused of laundering money for a Cambodian criminal organization, with the amount involved approximately 16.8 billion won (about 11.1 million USD). The gang transferred about 11.1 million USD in illegal funds by purchasing USDT and trading on domestic and international cryptocurrency exchanges from February 2024 to April 2025, using approximately 11,300 accounts for money laundering, involving about 265 cases of phishing and investment fraud, with the amount of illicit funds involved around 17 million USD. The Seoul police have seized approximately 650 million won (about 430,000 USD) in criminal proceeds from the suspects, but the gang leader is still at large and has been issued a red notice by Interpol.
The police also arrested 33 individuals on the same charges for illegally providing currency exchange services to tourists and acquaintances through USDT.
You may also like
Perp DEX: The Next Generation Exchange "War"
This "war" has just begun.
The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide
This gamble of transforming into AI is testing the financial strength and execution capability of mining companies.
A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars
Great companies are forged before they become obvious.
Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya
This on-chain reinsurance platform absorbs stablecoins from DeFi, uses them as collateral to underwrite for American insurance companies, collects premiums, and returns the profits to on-chain depositors.
The impossible triangle is simply a pseudo problem
A long time ago, the cryptocurrency industry found its true purpose. But ironically, the path it built for this purpose excluded almost everyone who would actually use it.
Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?
The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.
Blockchain Capital Partner: The Core Secret of Arbitrage
On cold starts, breaking the circle, and the toughest hurdle for founders to overcome.
STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?
Beyond the leverage crunch, what is even more concerning is the liquidity reserves of the Strategy.
Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?
Bitcoin price prediction 2026: Can BTC hit $150,000 by year-end? Explore Fed policy, Kevin Warsh's stance, Bitcoin ETF flows, exchange data, and BTC market forecasts.
Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?
Bitcoin ETFs lost $4.4 billion over 13 trading days, raising questions about market sentiment and Bitcoin's bottom. Here's what Standard Chartered is watching and how traders are managing idle stablecoin balances during uncertain markets.
WEEX App Just Got Smarter – New Tabs for Faster Trades & Easy Asset Management
Discover WEEX App’s new trading tabs: Futures, TradFi, Copy Trade (users)/ Elite Trade (lead traders) on the same page. Solve messy navigation, find opportunities faster, and manage all trades in one place.
WEEX All-New Search Features: Find, Trade & Earn Faster Than Ever
Supercharged search is here! Discover WEEX’s upgraded Search features with hot events, new listings, live market sentiment, and one-click trading. Trade smarter, seize every opportunity.
Morning Report | Illinois signs the strictest digital asset tax law in the U.S.; RWA tokenization market size surpasses $43 billion, institutions accelerate the migration of on-chain assets
Overview of Important Market Events on June 17
Full version of the debut Q&A! Federal Reserve Chairman Waller: Sticking to the 2% inflation target, establishing five special working groups, individual did not submit the dot plot
Federal Reserve Chairman Waller's debut featured a significant slimming statement, the cancellation of forward guidance, refusal to submit the dot plot, and the establishment of five working groups, vowing to uphold the 2% inflation target, which triggered a sharp decline in U.S. stocks and a surge ...
From Disruptor to Shadow Market: The Crypto Market is Becoming a Colony of Traditional Finance
"Coin-stock linkage" has evolved from the early stage of macro correlation and one-way penetration of emotional funds to the current 3.0 stage, where on-chain perpetual contracts provide extended trading hours and emotional signal value for traditional assets 24/7, and participate in Pre-IPO pricing...
Dalio's important long article: How to position in the current market environment?
Do not confuse the excitement for new technologies with whether those tech stocks are attractive.
OKX Star analyzes Binance's competitive advantages: when regulation levels the playing field, competition has just begun
OKX founder Star published a lengthy article, systematically analyzing Binance's competitive advantages over the years: regulatory arbitrage, speculative narrative cycles, social media control, and superficial compliance, stating that the essence of these advantages is not product capability, but ra...
New gameplay for participating in initial offerings on cryptocurrency exchanges
In this competition for cutting-edge assets, what has always been truly scarce is not the technology, but the underlying equity itself.
Perp DEX: The Next Generation Exchange "War"
This "war" has just begun.
The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide
This gamble of transforming into AI is testing the financial strength and execution capability of mining companies.
A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars
Great companies are forged before they become obvious.
Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya
This on-chain reinsurance platform absorbs stablecoins from DeFi, uses them as collateral to underwrite for American insurance companies, collects premiums, and returns the profits to on-chain depositors.
The impossible triangle is simply a pseudo problem
A long time ago, the cryptocurrency industry found its true purpose. But ironically, the path it built for this purpose excluded almost everyone who would actually use it.
Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?
The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Program:[email protected]
