Korean Customs Officer Cracks $73M Crypto Stablecoin Scam

A young customs officer has been recognized for her role in uncovering one of this year's largest foreign exchange crime busts, involving nearly $73 million.

The officer, Kim Min-hye, was part of the Busan Regional Customs' foreign exchange investigation team and had little experience with digital assets when she took on the case.

The suspect in question used Tether (USDT), a U.S. dollar-pegged stablecoin, to transfer funds through a domestic cryptocurrency exchange, before transferring the proceeds to used-car exporters.

Kim said that despite her initial unfamiliarity with cryptocurrencies, she found the case 'interesting' and was able to learn more about them while working on it.