The Korean Crypto Laundering Method Behind $6.4 Billion, and Why Police Struggle to Stop It

AI Summary A single cross-border laundering method has quietly become the backbone of South Korea’s crypto crime wave, accounting for $6.4 billion of the $7.1 billion in illegal crypto transactions recorded in the country since 2021. And despite knowing exactly how it works, police are struggling to stop it. The technique is called Hwanchigi. It exploits cryptocurrency The post The Korean Crypto Laundering Method Behind $6.4 Billion, and Why Police Struggle to Stop It appeared first on BeInCrypto . fulltext: 498 chars | fulltext source: rss-fallback | summary method: extractive Original: https://beincrypto.com/hwanchigi-crypto-laundering-south-korea-6-billion/ Source: BeInCrypto