Thai Authorities Detain South Korean in $50 Million Crypto-to-Gold Money Laundering Investigation

Thai Arrest in Crypto Laundering Case: A 33-year-old South Korean man, Han, was arrested in Thailand for allegedly laundering over $50 million in cryptocurrencies through a call center syndicate by converting them into gold.

Charges and Investigation Details: Han faces multiple charges including fraud, money laundering, and participation in a criminal syndicate, following an investigation triggered by numerous victim complaints regarding fake investment opportunities.

Crypto Transactions and Seizures: His accounts reportedly processed around $47.3 million in Tether (USDT) between January and March 2024, with authorities seizing his mobile phone containing crypto account information linked to the scheme.

Taiwan's Major Money Laundering Indictment: Separately, Taiwanese prosecutors indicted 14 individuals in the largest crypto money laundering case in Taiwan, involving over 1,500 victims and illicit proceeds exceeding $70 million, with efforts to confiscate significant assets.