South Korea Arrests 23 for USDT Money Laundering, Moved $11.1 Million Through 11,300 Accounts

According to The Block, Seoul police arrested 23 suspects on charges of laundering money for a Cambodian criminal organization through cryptocurrency transactions between February 2024 and April 2025. The group transferred approximately $11.1 million in illicit funds by purchasing USDT and trading it across domestic and international crypto exchanges. The operation involved approximately 11,300 accounts and was connected to roughly 265 phishing and investment fraud cases worth about $17 million in total victim losses. Authorities separately arrested 33 additional individuals accused of providing illegal currency exchange services via USDT to tourists and acquaintances.
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