South Korean police bust fake crypto exchange ring, seize 3.2 million USD worth of crypto

The police in South Korea uncovered a fraudulent cryptocurrency exchange operation that conducted transactions totaling 694.5 million USD over six years, leading to the indictment of several individuals on financial law violations.

Authorities seized around 4.4 billion won in hidden Ethereum during an investigation, highlighting the ongoing struggles against crypto-related fraud in the South Korean market.

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