TechFlow reports on January 20, according to DLNews, the Daegu District Court in South Korea sentenced a 41-year-old operator of an illegal cryptocurrency exchange to five years in prison for laundering $1 million in USDT for overseas voice phishing scam groups. A 35-year-old employee of the exchange was simultaneously sentenced to two years and eight months in prison. The criminal group used Telegram to communicate, impersonating law enforcement officers and family members to trick victims into transferring funds, then quickly converted the money into USDT—within less than an hour—making it impossible for banks to freeze the accounts in time. Judge Lee Young-cheol described this as a "heinous crime" and noted that the defendants took no action to compensate the victims. South Korean lawmaker Kim Sung-joon called for stronger regulation of stablecoins to counter emerging foreign exchange-related crimes.
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