[South Korean Police Dismantle Two Virtual Asset Money Laundering Organizations Involved in 14 Billion KRW Telecom Fraud Funds] BlockBeats News, June 16, according to Yonhap News Agency, the Seoul Metropolitan Police Agency's Wide Area Crime Investigation Unit has dismantled two organizations involved in money laundering using virtual assets, with a total amount exceeding 14 billion KRW. One organization, composed of nine individuals including a Chinese suspect A (45 years old), was directed by a Cambodian telecom fraud group. From February 2024 to April 2025, they purchased USDT through overseas exchanges and transferred it between domestic and international exchanges, laundering approximately 14 billion KRW in total. The organization collected a service fee of 650 million KRW. The main suspects have been transferred to the prosecution, with two individuals arrested. The leader, Y (29 years old), has been issued a Red Notice by Interpol. Another group of 14 individuals directly participated in laundering proceeds from a Cambodian romance scam, involving approximately 2.8 billion KRW. Additionally, 33 individuals have been transferred to the prosecution for allegedly providing unlicensed virtual currency exchange services to foreign tourists, involving 6.3 billion KRW. [Original Link]