BlockBeats News, November 28th. According to Decrypt, two South Korean police officers have been accused of receiving bribes from an illegal cryptocurrency exchange, with the total amount of money laundering involved reaching as high as $186 million (approximately 249.6 billion South Korean won). Prosecutors have charged these two police officers with providing investigation information to criminal organizations, assisting in unfreezing accounts, introducing lawyers, and connecting with other law enforcement officials in exchange for money. South Korean authorities have frozen about $1.1 million (15 billion won) in related assets.
The money laundering group, led by a mastermind collaborating with CEO “A,” recruited members from January to October 2024, setting up a cash exchange point disguised as a “gift voucher shop” in busy areas such as Yeoksam-dong in Seoul’s Gangnam-gu district. They converted proceeds from voice phishing scams into USDT stablecoin. The shop even displayed warning signs saying “Beware of Voice Phishing” to deflect attention.
