[Two South Korean Police Officers Indicted for $186 Million Cryptocurrency Money Laundering Case] Two South Korean police officers have been indicted for allegedly participating in a $186 million (approximately 249.6 billion KRW) cryptocurrency money laundering case. Prosecutors accuse the two of accepting bribes from illegal cryptocurrency exchange points, providing investigative intelligence to criminal groups, assisting in unfreezing accounts, introducing lawyers, and contacting other law enforcement personnel. South Korean authorities have frozen approximately $1.1 million (1.5 billion KRW) in related assets. The money laundering group, led by the main perpetrator and CEO 'A,' operated disguised 'gift voucher shops' as cash-to-crypto exchange points in areas such as Yeoksam-dong, Gangnam District, Seoul, from January to October 2024. They converted funds obtained through voice phishing scams into the stablecoin USDT. To conceal their illegal activities, the shops displayed signs warning against 'voice phishing scams.'
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