South Korean police arrest 149 for laundering 110B won with USDT

South Korean police have arrested a domestic ring that collaborated with a China-based organization to launder around 110 billion won in criminal proceeds, the Seoul Economic Daily reported. Tether (USDT) was the primary method used, accounting for 72% of the laundered funds. This was followed by schemes disguised as gift certificate businesses (19%) and standard bank transfers (9%). The Seoul Metropolitan Police Agency announced the arrest of 149 individuals, including members of the domestic ring that distributed illegal bank accounts and the Chinese money laundering organization, on charges of violating laws on the concealment of criminal proceeds. Seven of those arrested have been detained.