Family crime ring arrested for laundering phishing funds via crypto

A family crime ring has been arrested by South Korean police for laundering tens of billions of won from voice phishing schemes through an unregistered crypto exchange, Yonhap News reported. The Seoul Jungnang Police Station announced it had apprehended 19 members of a domestic voice phishing organization and a money laundering group. The suspects are accused of violating laws governing telecommunications fraud, concealment of criminal proceeds, and special financial transactions. Operating out of Myeong-dong in Seoul, the group allegedly converted cash from the scams into Tether (USDT) and transferred the funds overseas.