South Korea arrests police officers accepting bribes from illicit crypto operators
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On November 27, South Korean authorities arrested two police officers, a superintendent, and a senior officer from South Korea for allegedly accepting bribes from the proprietors of illegal crypto exchanges that reportedly used voice phishing to launder $186 million (249.6 billion won) Prosecutors claimed that the senior officer provided insider investigative information in exchange for cash and expensive goods. According to the Supreme Prosecutors’ Office of the Republic of Korea (SPO) report, Seoul Police Station Officer “G” reportedly accepted $7,500 (10 million won) in cash and expensive items during that time. The report revealed that Chief “F” allegedly accepted $59,000 (approximately 79 million won) between July 2022 and February 2024 from the proprietors of an illegal private cryptocurrency company. South Korean officers arrested in crypto bribery operation Suwon District Prosecutors’ Office Criminal Division report confirmed that the authorities dismissed both officers from their jobs following their arrest. Prosecutors stated that the two officers allegedly offered investigation information and introduced attorneys. The officers requested the unfreezing of accounts related to illegal activity and established connections with other law enforcement officials in exchange for the money. “Sharing details on wallets can push suspects toward mixers and privacy apps that obfuscate evidence and undermine AML efforts.” -Kadan Stadelmann, CTO at Komodo Platform. Stadelmann supported his comment by noting that communities must make sure their local police uphold the law. Prosecutors claimed that an unknown operator partnered with CEO “B” to plan a well-organized team to operate illegal cryptocurrency-for-cash swaps in busy locations between January and October 24. According to prosecutors, the operation included locations such as Yeoksam-dong, under the guise of gift certificate shops. The gang, according to South Korean authorities, maintained a respectable front by putting up banners warning customers to “Beware of Voice Phishing.” According to the report, the group turned…
Filed under: News - @ November 28, 2025 12:22 pm