The Seoul Headquarters Customs of Korea's Customs Service recently uncovered a cross-border underground virtual asset exchange case. The criminal group's method is actually quite simple—they collect money domestically through platforms like WeChat and Alipay, then turn to overseas markets to purchase virtual assets, transfer the coins into local wallets in Korea, and then convert them into Korean won for withdrawal. What appears to be a simple operation actually constitutes systematic illegal currency exchange and money laundering.

What is shocking is the scale of this case. In terms of time span, these individuals took a full 4 years to be caught. The total involved amount reached 148.9 billion KRW, which is nearly 1 billion RMB. The Customs Service has filed charges against the involved parties for violating the "Foreign Exchange Transactions Act." This case also serves as a reminder that virtual assets have indeed become a new tool for some criminals engaged in underground financial activities.