Key facts
- South Korean police have arrested 23 individuals.
- The arrests are linked to an alleged $11 million money laundering operation using USDT.
- The operation is part of a wider effort to combat illicit crypto activities.
- Globally, over $2.17 billion has been stolen from cryptocurrency services in 2025.
South Korean authorities have apprehended 23 individuals in connection with an alleged $11 million money laundering scheme that utilized Tether (USDT). This action is part of a larger initiative by law enforcement to curb illicit activities within the cryptocurrency ecosystem.
Globally, the cryptocurrency space has seen significant theft, with over $2.17 billion stolen from services in 2025 alone. Personal wallet compromises are also on the rise, accounting for a growing portion of total ecosystem theft. Threat actors who compromise services tend to display higher levels of sophistication in their laundering methods compared to those targeting individual wallets.