Thai authorities arrested a South Korean man for helping launder over $50 million in cryptocurrencies into gold. Han, 33, faces charges of fraud, money laundering, and involvement in a criminal syndicate. The case involves a call center scam that duped victims with false investment promises, leading to multiple arrests.

Han’s arrival in Thailand led to his arrest at the airport, where his mobile phone with crypto accounts was seized. He allegedly oversaw accounts receiving victim funds and converting them into gold for the scam network. Authorities estimate that Han’s accounts processed $47.3 million USDt into gold between January and March 2024.

In Taiwan, prosecutors indicted 14 individuals in a large cryptocurrency money laundering case involving over $70 million and 1,500 victims. Charges include fraud, money laundering, and organized crime, seeking the confiscation of nearly $40 million in assets. Authorities also requested the seizure of USDt, Bitcoin, Tron, cash, luxury cars, and frozen bank deposits.

Read more at Cointelegraph: Thai Police Arrest Korean Man in $50M Crypto-to-Gold Laundering Case