South Korean customs authorities have dismantled a large-scale counterfeit luxury goods operation, seizing approximately 77,000 fake items valued at 120 billion won ($90 million). The suspects reportedly profited 16.5 billion won ($12.4 million) through online sales and converted part of their illegal earnings into cryptocurrencies, including Bitcoin, storing about 500 million won ($380,000) in offline cold wallets to evade seizure. Authorities have confiscated these crypto assets and frozen additional assets, including apartments, hotels, and luxury cars, worth around 8 billion won ($6 million). This marks the first instance of crypto asset seizure by South Korean customs.