South Korean Soldiers Jailed for Operating Illegal Crypto Exchange and Money Laundering

2026-04-26 10:28

Two active-duty South Korean soldiers from the Army Special Warfare Command have been sentenced to two years in prison for operating an unregistered virtual asset exchange and facilitating money laundering for drug transactions. The Changwon District Court also imposed a fine of 54.69 million won on each of the defendants. Investigations revealed that between 2023 and 2024, the soldiers ran an illegal trading platform via Telegram, assisting buyers in converting approximately 54.69 million won from drug transactions into virtual currency, which was then transferred to sellers. The court's decision highlights the ongoing crackdown on illegal crypto activities in South Korea.

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