[South Korean Illegal Crypto Exchange Operator Sentenced to Five Years for Money Laundering] January 20 news, according to DLNews, the Daegu District Court in South Korea sentenced a 41-year-old operator of an illegal cryptocurrency exchange to five years in prison for laundering $1 million using USDT for an overseas voice phishing scam group. A 35-year-old employee of the exchange was also sentenced to two years and eight months in prison. The criminal group contacted victims via Telegram, posing as law enforcement officers and family members to deceive them into transferring funds, which were then quickly converted into USDT. The entire process took less than an hour, making it impossible for banks to freeze the accounts in time. Judge Lee Yong-chul described this as a "heinous crime" and pointed out that the defendants took no measures to compensate the victims for their losses. South Korean legislator Kim Sung-jun has called for stricter regulation of stablecoins to address emerging types of foreign exchange crimes.