Korea Customs eradicates international money laundering organization with over $100 million

According to ChainCatcher reports, South Korea’s customs authorities have successfully dismantled a large-scale international money laundering network that exploited cryptocurrency transactions. This case exemplifies how digital assets are used to evade regulatory oversight. Through intensive investigations, customs officials uncovered a cross-border illegal fund flow scheme.

Approximately 4 Years of Sophisticated Illegal Transaction Schemes

The dismantled money laundering organization had laundered approximately $117 million in illegal funds from September 2021 to June 2025. This long-term operation demonstrates a highly organized and planned execution. The suspects attempted to disguise illegal transactions under legitimate expenses such as cosmetic surgery and tuition fees to evade customs monitoring. Detailed investigations by customs ultimately exposed this elaborate camouflage technique.

The Full Scope of International Money Laundering Using Cryptocurrencies

The illegality of this network lay in its international structure. The suspects purchased cryptocurrency assets from multiple countries and transferred them to South Korea via digital wallets. Funds accumulated in wallets were converted into local currency to cash out. To avoid detection, the funds were deliberately dispersed across multiple bank accounts within South Korea. This multi-stage method clearly indicates an intent to bypass traditional banking surveillance systems.

Legal Responsibilities and a Turning Point for Strengthening International Regulations

Three suspects have already been forwarded to prosecutors, and criminal charges for violations of the Foreign Exchange Transactions Act are underway. This crackdown reflects regulators’ heightened vigilance against money laundering using cryptocurrencies. South Korea’s successful case marks a turning point emphasizing the importance of international financial crime countermeasures in the digital asset era. Without strengthened regulations and international cooperation, eradicating such illegal networks remains impossible, and enhanced collaboration among customs authorities worldwide is increasingly necessary.