Busan Court Sentences Three for Money Laundering with Cryptocurrency

The Busan District Court has sentenced three individuals to prison for laundering 50.5 million won in funds from a used goods trading scam by converting it into cryptocurrency and transferring it to overseas electronic wallets. Individual A received a one-year prison sentence, individual B was sentenced to eight months, and individual C received six months. Although they did not directly plan the scam, they were deemed responsible for making it difficult to trace the flow of criminal proceeds. Individual A was approached by a member of the scam organization on Telegram in May 2025 and took on the role of laundering the funds. Individuals B and C also participated by providing bank accounts and cryptocurrency exchange accounts. They created a structure that facilitated the flow of the scam proceeds to the scam organization. The scam organization posted false advertisements from June 6 to 9, 2025, collecting 50.5 million won from 98 victims, which was then transferred through multiple proxy accounts to accounts managed by individuals A and B, where it was converted into cryptocurrency. Judge Kim stated that internet goods scams disrupt the order of e-commerce and make it difficult to recover damages, thus necessitating severe punishment. However, the fact that the defendants showed remorse and were not the main perpetrators was taken into account during sentencing.

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