Authorities Arrest Criminals For Illegal Cryptocurrency Transactions

South Korea’s law enforcement agencies have detained 33 people for carrying out illegal cryptocurrency transactions worth $ 1.5 billion. They also carried out a series of illegal cross-border transactions using digital assets.

Authorities are currently investigating them and fifteen have been fined, with 14 still being held accountable. Four of those people have yet to be criminally charged, but an investigation is currently under way.

Binance CEO Changpeng Zhao says: “Harmony is a journey.”

Persons Responsible For Processing Illegal Payments Using Cryptocurrency Assets
According to the Daily South Korean newspaper, authorities arrested 33 suspects in illegal activities through cryptocurrencies.

In addition, these individuals were involved in various fraudulent activities and money laundering operations. Criminals conducted offshore operations with $ 1.69 billion worth of cryptocurrencies, worth 1.5 trillion won.

Dividing the total amount of transactions in their group, $ 707.5 million came from”illegal foreign exchange trading.””This amount was paid to third-party players to profit from cryptocurrency trading.

The Cryptocurrency market is in the priority zone where everyone expects growth / source: total market capitalization of cryptocurrencies TradingView.com
According to the prosecution, the defendants forged foreign transfers totaling $ 683.9 million. They committed these frauds while buying virtual assets abroad.

Read More / Russia Plans To Confiscate Illegally Purchased Cryptocurrencies

The latest faction is the $ 83.1 million that individuals allegedly spent on credit card withdrawals from abroad. According to officials, the card comes from the Asian country, and individuals have used it to buy cryptocurrencies from abroad.

We also learned that the individual is decidedly between s

Join the Discussion

  • BrokerEUR/USD
    SpreadEX 0.6pips (variable) margin: 3.33%
    FX Pro 0.91pips. (variable) margin: 3.33%
  • Back to top