Foresight News|Jan 27, 2026 04:38
[South Korean Customs Uncovers Counterfeit Luxury Goods Sales Case and Seizes Cryptocurrency Assets Including Bitcoin]
According to Foresight News, citing YTN, the Incheon Headquarters Customs of the Korea Customs Service has uncovered a corporate-scale counterfeit luxury goods sales case involving approximately 77,000 counterfeit items, with an estimated market value of 120 billion won (approximately $90 million) based on genuine product prices. The suspects profited 16.5 billion won (approximately $12.4 million) by selling counterfeit goods through online marketplaces and converted part of the criminal proceeds into cryptocurrencies such as Bitcoin, amounting to about 500 million won (approximately $380,000), stored in hardware wallets to evade confiscation. Law enforcement authorities have seized the related cryptocurrency assets and frozen assets involved in the case, including apartments, hotels, and luxury cars, worth approximately 8 billion won (around $6 million).
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