Korea Customs Launches 126-Person Crackdown on Illegal Fund Flows via USDT Stablecoins, Seizes 920 Billion Won

According to Yonhap TV, Korea Customs Service has launched a targeted operation to curb illegal fund flows tied to transnational crime. Over the last five years, the scale of underground remittances reached 114 trillion KRW, with approximately 83% routed through crypto assets.

Officials disclosed that a network involved in illicit transfers using stablecoins—notably USDT—was recently apprehended, with the total value involved about 920 billion KRW, underscoring crypto-enabled misuse in cross-border schemes.

Separately, foreign currency smuggling has risen, estimated at around 240 billion KRW over five years. To sharpen oversight, the Korea Customs Service has formed a 126-person team dedicated to enhancing currency concealment inspections and curbing money laundering activity.