[South Korean Police Bust Virtual Asset Money Laundering Gang in Seoul's Myeongdong, Seizing Approximately 6 Billion KRW in Criminal Proceeds] March 20 – According to reports from Yonhap News Agency, the Seoul Jungnang Police Station announced the bust of a money laundering gang primarily composed of family members and relatives. The gang operated an unregistered virtual asset exchange in Seoul's Myeongdong district, converting cash obtained through phone scams into Tether (USDT) and transferring it overseas, with the suspected laundering scale reaching hundreds of billions of KRW. Additionally, the gang leveraged rising precious metal prices, purchasing gold across borders using virtual assets and then exporting it for arbitrage profits. Police have arrested 19 suspects, including the main money laundering perpetrator A (46 years old) and three others who have been detained. The head of the fraud organization, B (44 years old), has fled overseas, and police are currently pursuing him. Authorities have seized criminal proceeds, including cash, silver pellets, and gold bars, totaling approximately 6 billion KRW.