CoinVoice has learned that the Korea Customs Service announced the transfer of three Chinese nationals suspected of involvement in a cryptocurrency money laundering scheme to the prosecution authorities. The suspects are accused of transferring approximately 150 billion Korean Won, equivalent to about 101.7 million USD, through illegal foreign exchange transactions from September 2021 to June 2023. The Korea Customs Service stated that the suspects used domestic and overseas cryptocurrency accounts as well as Korean bank accounts to transfer funds under the guise of paying for plastic surgery and overseas education expenses. The scheme involved purchasing cryptocurrencies abroad and transferring them to Korea, then converting them into Korean Won and dispersing them into local bank accounts to evade regulation. Currently, these three individuals have been handed over to the prosecution for violating the Korea Foreign Exchange Transactions Act.