South Korean authorities have arrested 16 people suspected of facilitating illegal currency transactions as part of kimchi premium arbitrage. The Seoul Daily News writes about it.
According to the publication, 75% of the crimes in the field of capital withdrawal and money laundering are attributed to cryptocurrencies.
Judicial action against two of those arrested, fines for seven, and a decision on the remainder has not yet been made.
One of the detainees is suspected of setting up several shell companies to send money abroad. In fact, according to journalists, we are talking about the transfer of digital assets from foreign accounts and their profitable sale on local exchanges, thanks to the “kimchi premium”.
Another arrested person is suspected of using import transactions to mask transactions with cryptocurrencies.
Remember, in August FSS During the investigation of such crimes, he estimated the volume of external transfers to crypto exchanges at $6.5 billion.
For the first time, problems with “kimchi premium” were reported by the country authorities in October 2021.
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Source: Fork Log
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