[South Korea Cracks $101.7 Million Cryptocurrency Money Laundering Case] According to a report by Jinse Finance, South Korea's customs authorities recently dismantled an international illegal fund exchange network suspected of laundering approximately $101.7 million (148.9 billion KRW) through cryptocurrency transactions. As reported by Yonhap News Agency, the Korea Customs Service has handed over three suspects to prosecutors, accusing them of violating the *Foreign Exchange Transactions Act*. The money laundering network operated from September 2021 to June 2025, disguising the transfers as legitimate expenses such as cosmetic surgery or tuition fees. The suspects purchased cryptocurrency assets from multiple countries, transferred them to wallets in South Korea, converted them into local currency, and dispersed the funds across multiple South Korean bank accounts to evade regulatory oversight.