A group in South Korea has been charged with laundering $756.8 million through a fake cryptocurrency website

According to a report by the Korean Daily, the Cybercrime Investigation Team of the Busan Local Police Department in South Korea has filed non detention charges against a gang, accusing them of laundering approximately 1.1 trillion Korean won (approximately 756.8 million US dollars) through a false cryptocurrency trading platform used on an illegal gambling website. The gang reportedly profited about 10 billion Korean won (approximately 6.88 million US dollars). From January 2022 to September 2023, they operated five offices in South Korea, developed fake trading websites, and laundered money for 112 gambling websites. The police also arrested 80 minors involved in the case, some of whom were recruited through the use of celebrity deepfake videos.