South Korea: Two Police Officers Indicted in $186 Million Cryptocurrency Laundering Case

By: theblockbeats.news|2025/11/28 15:15:58

0

Share

copy

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 a staggering $186 million (approximately 249.6 billion South Korean won). Prosecutors have charged these two police officers with providing investigation intelligence to criminal gangs, assisting in unfreezing accounts, introducing lawyers, and connecting with other law enforcement officers 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 in collaboration with CEO "A," recruited members from January to October 2024 and set up a cash exchange point disguised as a "gift voucher shop" in upscale areas such as Yeoksam-dong in Gangnam-gu, Seoul. They converted proceeds from voice phishing scams into USDT stablecoin. The shop even had warning signs saying "Beware of Voice Phishing" to mask their activities.

-- Price

You may also like

Pantera Capital: How has Crypto as a Service affected us?

Pantera Capital: How has Crypto as a Service affected us?

If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.

Pantera Capital: What changes have we made when crypto is treated as a service?

Pantera Capital: What changes have we made when crypto is treated as a service?

If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

"The Ethereum token economic model has collapsed, wake up and see this clearly."

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

The opportunity for stablecoins lies with those merchants that have yet to emerge.

Mining Exodus: Someone Holds $12.8 Billion AI Order

Mining Exodus: Someone Holds $12.8 Billion AI Order

Mining Farms are Turning to AI Hashpower with no Turning Back.

March 6 Market Key Intelligence, How Much Did You Miss?

March 6 Market Key Intelligence, How Much Did You Miss?

1. On-chain Funds: $16.3M USD has flowed into the OP Mainnet today; $13.7M USD has flowed out of Arbitrum 2. Largest Price Swings: $XPT, $AIX 3. Top News: Vitalik Calls on Ethereum Community to Shift Mindset, Uphold Core Principles, and Rethink Application Design "From Scratch"

a16z: The True Opportunity of Stablecoins is in Complementing, Not Disrupting

a16z: The True Opportunity of Stablecoins is in Complementing, Not Disrupting

The stablecoin opportunity lies with those merchants yet to come onboard.

Predict LALIGA Matches, Shoot Daily & Win BTC, USDT and WXT on WEEX

Predict LALIGA Matches, Shoot Daily & Win BTC, USDT and WXT on WEEX

The WEEX × LALIGA campaign brought together football excitement and crypto participation through a dynamic interactive experience. During the event, users predicted matches, completed trading tasks, and took daily shots to compete for rewards including BTC, USDT, WXT, and exclusive prizes.

Ray Dalio Dialogue: Why I'm Betting on Gold and Not Bitcoin

Ray Dalio Dialogue: Why I'm Betting on Gold and Not Bitcoin

Gold is the only asset with a long-term history that can be transferred, is not easily replicable, and does not rely on anyone else's promise. Most currencies, debts, stocks, etc., are just promises of someone honoring their purchasing power.

Who Took the Money in the AI Era? A Must-See Investment Checklist for HALO Asset Trading

Who Took the Money in the AI Era? A Must-See Investment Checklist for HALO Asset Trading

A one-page paper listed a series of questions about the potential impact of AI progress. Looking back over two years later, these questions appear particularly prescient, although none of them provided a definitive answer at the time.

Wall Street Bears Target Ethereum: Vitalik In the Know Takes Flight, Tom Lee Remains Bullish

Wall Street Bears Target Ethereum: Vitalik In the Know Takes Flight, Tom Lee Remains Bullish

「The Ethereum Tokenomics Has Collapsed, Wake Up and Realize It」

Pump.fun Hacker Steals $2 Million, Receives 6-Year Prison Sentence, Opts for 'Self-Detonation'

Pump.fun Hacker Steals $2 Million, Receives 6-Year Prison Sentence, Opts for 'Self-Detonation'

Life of Talent, Paranoia, and Setbacks

6% Annual Percentage Yield as Musk Declares War on Traditional Banks

6% Annual Percentage Yield as Musk Declares War on Traditional Banks

A black metal card, 600x rate delta.

36 years, 4 wars, 1 script: How does capital price the world in conflict?

36 years, 4 wars, 1 script: How does capital price the world in conflict?

When the cannon fires, 10,000 ounces of gold. In a turbulent era, the wealth choice of the common people.

Mining Companies' Great Migration: Some Have Already Secured $12.8 Billion in AI Orders

Mining Companies' Great Migration: Some Have Already Secured $12.8 Billion in AI Orders

Mining companies turn to AI computing power, with no turning back.

What Is Vibe Coding? How AI Is Changing Web3 & Crypto Development

What Is Vibe Coding? How AI Is Changing Web3 & Crypto Development

What is vibe coding? Learn how AI coding tools are lowering the barrier to Web3 development and enabling anyone to build crypto applications.

Pantera Capital: How has Crypto as a Service affected us?

If you are planning to start a business in 2026, my advice is simple: Instead of just talking about technology, focus more on how you can solve real-world problems.

Pantera Capital: What changes have we made when crypto is treated as a service?

If you are planning to start a business in 2026, my advice is simple: stop talking excessively about technology and focus more on the actual problems you can solve.

Wall Street Shorts ETH: Vitalik is aware and has front-run, while Tom Lee remains oblivious

"The Ethereum token economic model has collapsed, wake up and see this clearly."

Social Capital CEO: How Equity Tokenization is Reshaping Capital Markets from US Stocks to SpaceX?

Equity tokens represent the next challenge: can tokenization expand from payments to ownership of financial assets?

CoinGecko Report: Surge of 346% vs Dip of 20.8%, The Wild Rise of DEX

A large-scale capital migration driven by platforms such as Hyperliquid towards decentralized infrastructure from centralization.

a16z: The Real Opportunity of Stablecoins Lies Not in Disruption but in Filling Gaps

The opportunity for stablecoins lies with those merchants that have yet to emerge.

Popular coins

Latest Crypto News

14:43

The on-chain collateralized decentralized protocol OmniPact has completed a $50 million private placement financing

Decentralized protocol OmniPact, built for a trust layer in peer-to-peer trading of physical and digital assets, announced the completion of a $50 million private placement financing, backed by a consortium of institutional investors and family offices that require anonymity. The protocol utilizes s...

14:43

A certain whale has withdrawn 853.5 million PUMP from CEX in the past 7 hours, worth 1.6 million dollars

According to Lookonchain monitoring, a certain whale withdrew 853.5 million PUMP from CEX in the past 7 hours, worth 1.6 million USD. Currently, this whale holds 8.71 billion PUMP, valued at 16.4 million USD.

14:43

Vitalik Buterin: The AI era requires cryptographic privacy mechanisms to protect API access patterns

Ethereum co-founder Vitalik Buterin stated that, in the context of the increasing prevalence of AI agents, cryptographic privacy technologies are crucial for protecting users' API call patterns and behavioral data. He pointed out that even with local AI agents, if external services can see all searc...

14:43

Iran makes final decision on new Supreme Leader candidate

According to Iranian media reports on the 8th, the Iranian Experts Assembly has made a final decision on the new Supreme Leader candidate.

14:43

Data: 398.49 BTC was transferred from an anonymous address and then sent to another anonymous address after a relay

According to Arkham data, at 14:08, 398.49 BTC (worth approximately 26.7822 million USD) was transferred from one anonymous address (starting with bc1qkqds...) to another anonymous address (starting with bc1q5xv3...).