TechFlow News, June 10: According to Digital Asset, a man in his 40s identified as “A,” a currency exchange operator in South Korea, was sentenced to two years’ imprisonment and ordered to forfeit 133 million Korean won by the Seoul Central District Court for unreported virtual asset transactions linked to Huiwang Group—a money laundering organization operating in Cambodia. The court found that from 2022 to 2024, A conducted approximately 15.5 billion Korean won worth of digital asset transactions in 194 separate instances without reporting them to financial authorities; and between 2021 and 2023, engaged in approximately 2.9 billion Korean won worth of unregistered foreign exchange activities—including remittances to China—in 135 separate instances. This marks the first time a South Korean court has issued a guilty verdict regarding digital asset money laundering suspicions tied to the Huiwang Group.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
