The South Korean prosecution seized $3.2 million worth of cryptocurrency while investigating illegal foreign exchange trading

ChainCatcher news, according to Yonhap News Agency, South Korean prosecutors raided a group suspected of earning billions of won in fees through unregistered foreign exchange operations, seizing cryptocurrencies worth 4.4 billion won (approximately 3.2 million USD), including Ethereum.

The group is suspected of conducting illegal currency exchanges over the past six years, profiting from transaction fees by receiving personal funds and using online payment platforms to recharge different currency accounts.