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Two police officers in South Korea have been charged in connection with a $186 million Money Laundering case involving Crypto Assets.

On November 28, according to Decrypt, two police officers in South Korea were accused of accepting bribes from illegal cryptocurrency exchange points, with a total money laundering amount reaching as high as 186 million USD (approximately 249.6 billion KRW). Prosecutors accused these two officers of providing investigation information to criminal groups, assisting in unfreezing accounts, introducing lawyers, and connecting other law enforcement personnel in exchange for money. South Korean authorities have frozen approximately 1.1 million USD (1.5 billion KRW) in related assets. The money laundering group was led by a main perpetrator who collaborated with CEO “A” to recruit members from January to October 2024, establishing cash exchange points disguised as “gift voucher stores” in bustling areas such as the Yeoksam-dong in Gangnam, Seoul, converting voice scam proceeds into USDT stablecoin. The store even had warning slogans like “Beware of Voice Scams” posted to mislead people.

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