Woofun AI reports that the Wide Area Crime Investigation Team of the Seoul Police Agency has dismantled two criminal organizations utilizing virtual assets for money laundering. The primary network, comprising nine members including one Chinese national, operated under the direction of a Cambodian telecommunications fraud ring. From February 2024 to April 2025, the group purchased USDT via overseas exchanges and transferred funds between domestic and international platforms, laundering approximately 14 billion Korean won while collecting a 650 million won handling fee. Key suspects have been transferred to prosecutors, with two arrested and the organization's leader placed on an Interpol red notice list.

Concurrently, authorities targeted a second group of 14 individuals directly involved in laundering proceeds from Cambodian fraud schemes, involving roughly 2.8 billion Korean won.

Additionally, 33 other persons were handed over to prosecutors for providing unlicensed virtual currency exchange services to foreign tourists, with transactions totaling 6.3 billion Korean won.