South Korea Busts Crypto Laundering Ring Behind 150 Billion Won FX Scheme

• South Korea uncovered a crypto laundering ring that moved about 148.9 billion won through illegal FX channels.
• The scheme used multi-country crypto accounts and small transfers to evade financial monitoring systems.
• Suspicious crypto reports hit 36,684 in 2025 as authorities tightened identity checks below 1 million won.

South Korean customs authorities have shut down an international cryptocurrency laundering operation accused of moving nearly 150 billion won through unauthorized foreign exchange channels, highlighting the country’s intensifying scrutiny of cross-border digital asset flows.

According to the Korea Customs Service (KCS), three Chinese nationals have been referred to prosecutors for alleged violations of South Korea’s Foreign Exchange Transactions Act. Investigators said the suspects laundered approximately 148.9 billion won, equivalent to about …

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