South Korea has cracked down on a group involved in illegal foreign exchange trading using cryptocurrency assets, with the amount involved exceeding 140 billion won

According to Yonhap News Agency, the Seoul Customs Office in South Korea recently uncovered a group involved in illegal foreign exchange trading using domestic and foreign cryptocurrency accounts, with an amount involved reaching 148.9 billion won (approximately 11.3 million USD). The group collected payments through WeChat Pay and Alipay, then purchased foreign cryptocurrencies to transfer to local wallets and cash out, suspected of violating the Foreign Exchange Transaction Act. The case has been referred to the prosecution for handling.

Three suspects include a Chinese male in his 30s. Their business covers areas such as trade, studying abroad, and medical beauty, even attracting clients by exchanging currency for surgical fees.