The South Korean Customs Service has reported that the amount of criminal transactions involving digital currencies in 2022 amounted to 5.6 trillion won ($4.3 billion).
This figure is a nearly 70% increase compared to 2021, when the amount of such transactions was 3.2 trillion ($2.5 billion).
In August of last year, the Customs Service detained 16 people from a criminal group who had laundered around $2 billion through cryptocurrencies.
As of 2017, companies that send and receive funds in cryptocurrencies must obtain a license from regulatory authorities. Without this license, any cryptocurrency operations are considered illegal, which is why the scale of such transactions remains high.