TechFlow, Nov. 28 — According to Decrypt, two South Korean police officers have been indicted on suspicion of accepting bribes from operators of an illegal cryptocurrency exchange linked to a $186 million vishing money laundering case.
The Suwon District Prosecutors' Office Criminal Division stated that Seoul Police Chief "F" accepted $59,000 in bribes between July 2022 and February 2024, while senior officer "G" received $7,500 in cash and luxury goods during the same period. Both officers have been dismissed.
Prosecutors allege that in exchange for bribes, the two officers provided investigative information to criminals, introduced lawyers, requested the unfreezing of accounts used in criminal activities, and assisted in contacting other law enforcement personnel.
It is reported that a criminal gang operated illegal cash-to-crypto exchanges disguised as gift voucher shops in bustling areas such as Gangnam District in Seoul, converting proceeds from vishing scams into USDT stablecoins. Authorities have frozen approximately $1.1 million in illicit assets, including $600,000 worth of USDT.
