South Korean prosecutors seize $3.2M in crypto in illegal FX probe

South Korean prosecutors have raided a group accused of earning billions of won in fees through unregistered foreign exchange operations, seizing 4.4 billion won ($3.2 million) worth of cryptocurrencies, including Ethereum (ETH), Yonhap News reported. The group is suspected of conducting illegal currency exchanges over the past six years by receiving funds from individuals and using online payment platforms to top up accounts in different currencies, profiting from transaction fees.