[South Korea's Cryptocurrency Money Laundering Cases Surge 152-Fold, Involving $6.4 Billion]
According to BeInCrypto, from 2021 to August 2025, South Korea's Hwanchigi method was involved in illegal cryptocurrency transactions amounting to $6.4 billion, accounting for over 90% of the total $7.1 billion in illegal transactions during the same period. In the first half of 2026, South Korea recorded 1,214 virtual asset money laundering cases, a 152-fold increase compared to the 8 cases in all of 2025, representing 79.4% of total cryptocurrency crimes during the same period. USDT was the primary medium. Only 18 individuals were arrested in the first half of the year, down from 42 in 2023. During the same period, South Korean customs seized illegal foreign exchange transactions worth 72 trillion KRW (approximately $49.2 billion), with over 90% of the funds flowing through unlicensed channels.
