CryptoSeptic
Saturday, May 24, 2025
  • Login
Advertise
No Result
View All Result
  • Exchanges
    • Best Crypto Exchanges
    • Best Indian Exchanges
  • Wallet
    • Best Hardware Wallets
    • Best Bitcoin Wallet
    • Best Crypto Cards
  • Mining
    • Best Cloud Mining
    • Best Hardware Mining
    • Best GPU Mining
    • Best CPU Mining
  • VPN
    • Best VPN List
    • Best VPN Based on Countrywise
    • 10 Best Free VPN
  • Review
    • Extra
      • Gambling
        • CSGO Sites
      • Loan
      • Earn Interest
      • Ad Network
      • Gift Card
      • Security
Trade Crypto
Buy/Sell Bitcoin
  • Exchanges
    • Best Crypto Exchanges
    • Best Indian Exchanges
  • Wallet
    • Best Hardware Wallets
    • Best Bitcoin Wallet
    • Best Crypto Cards
  • Mining
    • Best Cloud Mining
    • Best Hardware Mining
    • Best GPU Mining
    • Best CPU Mining
  • VPN
    • Best VPN List
    • Best VPN Based on Countrywise
    • 10 Best Free VPN
  • Review
    • Extra
      • Gambling
        • CSGO Sites
      • Loan
      • Earn Interest
      • Ad Network
      • Gift Card
      • Security
No Result
View All Result
  • Login
CryptoSeptic
No Result
View All Result
Home Security Controversy

South Korean authorities have made sixteen arrests in connection with illegal cryptocurrency trading.

Since February, the Korea Customs Service conducted an investigation that resulted in the discovery of over 2.7 trillion won ($2 billion) in illegal foreign exchange transactions related to virtual assets.

Azmarine by Azmarine
September 1, 2022
in Controversy, News
Reading Time: 1 min read
0 0
South Korea Crypto News
Share on FacebookShare on Twitter

According to a report from a local outlet known as Newsis, South Korean customs authorities made 16 arrests on Tuesday related to illegal transactions involving foreign currency.

According to the report, two of the 16 people are going to be charged with criminal offences, seven were issued monetary penalties for their negligent actions, and the investigation is still ongoing for the remaining seven individuals.

Relating Posts

Netflix bans crypto commercials on ad-based streaming service

Crypto miner Poolin pauses BTC and ETH withdrawals, citing ‘liquidity problems’

Reserve Bank of India preparing to trial a CBDC with public sector banks and fintechs

Bed Bath & Beyond CFO Accused of ‘Pump & Dump’ to Inflate Stock Value

Bank of Russia to legalize Crypto cross-border payments

Regulators Find Flaws in Pro-Crypto Bank Revolut’s Audits

The arrests were made as a direct result of an investigation that was conducted by the Korea Customs Service since February. The investigation uncovered more than 2.7 trillion won ($2 billion) in illegal foreign exchange transactions that were related to virtual assets.

South Korea Ad Agencies are looking to NFT ventures as a new way to grow.

Inspectors of customs found that a number of the illegal transactions involving foreign exchange were related to offshore crypto exchanges. Some of the individuals involved had created companies such as illegal remittance agencies and then hid trade proceeds from overseas buyers using domestic banks.

According to the director of the Seoul Customs Investigation Bureau, there is a high possibility that these foreign exchange transactions may have violated the Foreign Exchange Transactions Act. This information was provided to Newsis by Lee Min-geun.

This is the most recent development in South Korea’s ongoing effort to crack down on illegal crypto activity. At the beginning of this month, the Korea Financial Intelligence Unit, which is the country’s watchdog for anti-money laundering, identified 16 crypto firms as operating without registration.
It was not possible to obtain a comment from the Korea Customs Service at this time.

ShareTweetSendShare
Azmarine

Azmarine

Crypto Enthusiast - Who is Fascinated how BlockChain can take over the world!

Related Posts

Netflix bans crypto commercials CryptoSeptic
Controversy

Netflix bans crypto commercials on ad-based streaming service

September 6, 2022
Crypto Rig Mining Laptop - CryptoSeptic.com
Controversy

Crypto miner Poolin pauses BTC and ETH withdrawals, citing ‘liquidity problems’

September 6, 2022
Crypto Trading India
News

Reserve Bank of India preparing to trial a CBDC with public sector banks and fintechs

September 6, 2022
Bed Bath & Beyond Biz Stocks Trends CryptoSeptic
Controversy

Bed Bath & Beyond CFO Accused of ‘Pump & Dump’ to Inflate Stock Value

September 6, 2022
Russia Crypto Coin Adoption - CryptoSeptic.com
Controversy

Bank of Russia to legalize Crypto cross-border payments

September 6, 2022
Pro-Crypto Bank Revolut’s Audits CryptoSeptic
Controversy

Regulators Find Flaws in Pro-Crypto Bank Revolut’s Audits

September 6, 2022
Load More
bitcoinBitcoin
$ 107,839.89
$ 107,839.89
2.67%
ethereumEthereum
$ 2,551.20
$ 2,551.20
4.01%
litecoinLitecoin
$ 96.80
$ 96.80
3.58%

Get Into Crypto Now

Paxful

PaxFul

Binance Image

Binance

NiceHash

NiceHash

Minergate image

Minergate

LEDGER

Ledger

trezor

Trezor

cropped-Bitcoins.png

FreeBitcoin

Roobet

Roobet

Popular Stories

  • Crypto Groups – Pumping and Dumping Scheme? When To Buy and Sell?

    Crypto Groups – Pumping and Dumping Scheme? When To Buy and Sell?

    269 shares
    Share 0 Tweet 0
  • Famous Celebrities who Invested in SafeMoon – More to Come?

    16 shares
    Share 0 Tweet 0
  • USDT-TRC20 Deposit Stuck in Bitmart for Millions of Traders

    0 shares
    Share 0 Tweet 0
  • CoinPilot Review: Best CryptoTrading Service Automatic Profits?

    0 shares
    Share 0 Tweet 0
  • AdShares- How To Withdraw Funds from Crypto Ad Network?

    0 shares
    Share 0 Tweet 0
[the_ad id="4314"]

Quick Links

  • VPN
  • Express VPN
  • Nord VPN
  • Zenmate
  • Pure VPN
  • Hotspot Shield
  • CyberGhost
  • Mining
  • NiceHash
  • MinerGate
  • Kyrptex
  • CryptoTab
  • GamerHash
  • CudoMiner
  • Exchanges
  • Binance
  • Paxful
  • Bitfinex
  • KuCoin
  • Bitmart
  • Kraken
  • Wallet
  • Coinbase
  • Paxful
  • Blockchain
  • Trezor
  • Ledger
  • CryptoPay
  • Gambling
  • Roobet
  • Stake
  • Bitstarz
  • FreeBitcoin
  • Daddy Skins
  • Roll Bit
  • Security
  • 1Password
  • Authy
  • DashLane
  • Last Pass
  • Proton Mail
  • Tor Guard

CryptoSeptic

CryptoSeptic was started with a vision to provide various articles & news based on Blockchain, Metaverse, Cryptocurrency, and Decentralization all in one place. Strong Crypto Community With over 6000+ Active Members, latest Signals, updates, news, and more...

Facebook Twitter Discord Quora Reddit Pinterest Tumblr
  • About
  • Contact Us
  • Sitemap
  • Privacy Policy
  • Blog
  • Advertise
  • Partners

Copyright © 2020-22  CryptoSeptic – Crypto Community

No Result
View All Result
  • Exchanges
    • Best Crypto Exchanges
    • Best Indian Exchanges
  • Wallet
    • Best Hardware Wallets
    • Best Bitcoin Wallet
    • Best Crypto Cards
  • Mining
    • Best Cloud Mining
    • Best Hardware Mining
    • Best GPU Mining
    • Best CPU Mining
  • VPN
    • Best VPN List
    • Best VPN Based on Countrywise
    • 10 Best Free VPN
  • Review
    • Extra
      • Gambling
      • Loan
      • Earn Interest
      • Ad Network
      • Gift Card
      • Security

© 2021 CryptoSeptic

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In