According to Yonhap News Agency, the Seoul Metropolitan Police Department's Wide Area Crime Investigation Team stated that they have transferred over 20 individuals from two organizations suspected of using cryptocurrency to launder the proceeds of phishing scams to prosecutors. One of the groups is suspected of purchasing and transferring USDT through South Korean and overseas cryptocurrency exchanges to launder funds for Cambodian phishing fraud organizations. The illegal exchange amount involved is about 14 billion Korean won (approximately 10.1 million US dollars), and about 650 million Korean won (approximately 470000 US dollars) in transaction fees; Another group of 14 people are suspected of using approximately 2.8 billion Korean won (about 2 million US dollars) of criminal proceeds to purchase USDT and then transferring it to overseas exchanges for money laundering. The police have also transferred 33 individuals suspected of operating unregistered currency exchange businesses worth approximately 6.3 billion Korean won (approximately 4.5 million US dollars) to the prosecution. https://(wublock123.com)/news/south-korea-police-bust-two-usdt-money-laundering-cases-1010m-usd-62850