South Korean Prosecutors Seize $3.2 Million Worth of Cryptocurrency in Illegal Forex Trading Investigation

On June 26, according to Yonhap News Agency, South Korean prosecutors raided a group suspected of earning billions of won in fees through unregistered foreign exchange operations and seized cryptocurrencies worth 4.4 billion won (approximately 3.2 million US dollars), including Ethereum. The group is alleged to have engaged in illegal currency exchanges over the past six years, profiting from transaction fees by receiving personal funds and using online payment platforms to top up accounts in different currencies.