South Korean police arrested 23 suspects for USDT money laundering, involving $11.1 million.

CoinFeed reported on June 16 that, according to The Block, the Seoul Metropolitan Police Agency's Criminal Investigation Department arrested 23 suspects for allegedly laundering money for a Cambodian criminal organization, involving approximately 16.8 billion won (about US$11.1 million). Between February 2024 and April 2025, the group transferred approximately US$11.1 million in illicit funds by purchasing USDT and trading it on domestic and international cryptocurrency exchanges. They used approximately 11,300 accounts for money laundering, involving approximately 265 phishing and investment scams, with the total amount involved estimated at US$17 million. Seoul police have seized approximately 650 million won (about US$430,000) in illicit proceeds from the suspects, but the ringleader remains at large and has been issued a red notice by Interpol. Police also arrested 33 individuals on the same charges for illegally providing currency exchange services to tourists and acquaintances using USDT.