In Thailand, police have arrested a South Korean citizen on suspicion of laundering over $50 million obtained from fraudsters through cryptocurrency.
Details of the Arrest
A 33-year-old South Korean identified as Han was detained on August 23 at Suvarnabhumi Airport. According to local media reports, he played a central role in laundering funds for scam groups operating under the guise of call centers.
Laundering Methods
Authorities state that Han's linked crypto wallets processed over 47 million USDT between January and March 2024. These funds were used for purchasing gold in at least 30 separate transactions, each involving no less than 10 kilograms of gold.
Connection to Fraud Schemes
Investigators suspect Han worked closely with overseas gold vendors and facilitated shipments to unidentified scam operatives. His phone, recovered during the arrest, was found to hold access to multiple cryptocurrency accounts and wallet logs consistent with large-scale laundering activities.
Han's case is part of a wider wave of investigations into cryptocurrency-related fraud schemes that have intensified in recent months.
