A South Korean currency exchanger involved in the Huione Group was sentenced to two years’ imprisonment for failing to report virtual asset transactions.
Source：
www.digitalasset.works
According to Digital Asset, a Korean currency exchange dealer in his 40s, identified as “A,” was sentenced to two years’ imprisonment and ordered to forfeit 133 million KRW by the Seoul Central District Court for unreported virtual asset transactions linked to Huiwang Group—a Cambodian money laundering organization. The court ruled that between 2022 and 2024, A conducted approximately 15.5 billion KRW worth of digital asset transactions across 194 instances without reporting them to financial authorities; and between 2021 and 2023, he engaged in approximately 2.9 billion KRW worth of unregistered foreign exchange activities—including remittances to China—across 135 instances. This marks the first time a South Korean court has issued a guilty verdict related to digital asset money laundering allegations involving Huiwang Group.
