Man booked in South Korea for $78M USDT scheme for car exports

South Korean customs authorities in Busan have booked a man in his 40s without detention for allegedly using Tether (USDT) to illegally process payments for used car exports, Kookmin Ilbo reported. The suspect is accused of violating the Foreign Exchange Transactions Act by conspiring with a used car importer in Uzbekistan. Between September 2024 and the end of 2025, he allegedly managed a total of 108 billion won ($78 million) in illicit funds, earning around 130 million won ($94,000) in commission.