South korean police officers indicted in $186 million crypto-laundering case

[_act_]

We have discussed about how police officers were corrupt before as they were the thieves that kidnapped a bitcoin and crypto user and stole coins from him, I think that happened in India, but this time police is involved in an illegal actions which was about a scam exchange bribed the police officers.

One police offer is a superintendent that was referred to as Seoul Police Station Chief “F”, he was alleged to have received $59000 (79 million won) between July 2022 and February 2024 from operators of an illegal private crypto exchange. The second officer called Officer “G“ reported to have accepted $7500 (10 million won) in cash and luxury goods during the same period.

Both officers helped crypto operators who ran illegal exchanges that laundered $186 million (249.6 billion won) in proceeds from voice phishing. Voice phishing is when scammers call or use voice messages to deceive their clients.

It was reported that both officers helped during investigation and they have been removed from their positions following their arrest.


https://decrypt.co/350312/south-korean-police-officers-indicted-186-million-crypto-laundering-case

[Mrbluntzy]

This is just similar to what is happening in our country, the corrupt practices of thieves and scammers is being sponsored by some corrupt law enforcement agencies, they are the one covering up for the scammers and protecting them from being apprehended and also help them to walk away freely even after they have been arrested. There are some confidential issues that an individual might report to the police or any other law enforcement agencies, and the person would be thinking that they have done good to share the issue with the agencies, not knowing that those corrupt agencies will go ahead to disclose the information to scammers and the individual becomes a target for scammers. It's just shocking to see that government agencies are now getting involved into some world crypto corruption scandals. Now, no body is to be trusted because even law enforcement officials are contributing to some issues.

[Ronsbit]

I am not surprised, though, because it is no longer a new thing to me that government officials abet evil. We've seen and heard of the police stealing and extorting from crypto holders. In broad daylight in my country, it happened, but it is cash, but now crypto makes it easier for them because it is anonymous, except you keep track of the transactions to know where they sent it.

As for the Police, they are now becoming too notorious in their involvement in crypto crime schemes; It is just obvious that they are a partner in crime in the majority of cases we've been hearing lately, but the government is really doing its best to make sure there is accountability and transparency in the government sector.

[Z-tight]

I do not know how only two officers were able to pull this off. I understand that they were senior officers, but most of the things they are accused of doing would require vetting and confirmation from other personnel in authority. So there are surely so many others who are complicit in this crime.

It is also amusing that the scammers laundered funds from voice phishing. But yet they displayed this facade to seemingly 'warn' people of voice phishing, lol. How crazy and deceitful scammers can be.

The group converted criminal proceeds, primarily from voice phishing scams, into Tether’s stablecoin USDT while maintaining a facade of legitimacy through signs warning customers to "Beware of Voice Phishing," according to prosecutors.