South Korean police return $19.8M in voice phishing funds frozen at crypto exchanges

The Seoul Metropolitan Police Agency’s wide-area investigation unit said it has returned about 26.3 billion won ($19.8 million) in voice phishing proceeds that had been frozen at South Korea’s five largest virtual asset exchanges to around 1,100 victims. According to KBS News, police identified the victims after confirming in early 2023 that large sums of 피해금 were frozen in virtual asset accounts used in voice phishing crimes and suspended from trading, then tracing fund flows across around 1,000 frozen exchange accounts and about 160,000 bank accounts.