Three arrested for laundering $107.5 million in plastic surgery fees via crypto

SEOUL – South Korean customs authorities have arrested three people for illegally transferring 148.9 billion won ($107.5 million) into the country from overseas using cryptocurrency, Yonhap News TV reported Sunday.

The Seoul Main Customs Office announced it has referred three individuals, including a Chinese national in his 30s, to prosecutors following an investigation into the four-year operation.

The group allegedly laundered funds by accepting payments in foreign currency from international clients for services including plastic surgery procedures and tuition fees.

The suspects would then convert these funds into cryptocurrency before selling the digital assets for Korean won, effectively moving money into South Korea while bypassing official foreign exchange channels.

The scheme allowed the operators to transfer large sums into the country without going through regulated banking systems that would have created regulatory records and triggered reporting requirements under South Korea’s capital control framework.

Details on specific charges, the investigation timeline, or potential penalties were not disclosed by authorities.

The case highlights ongoing challenges for South Korean regulators monitoring cryptocurrency-facilitated cross-border money flows, particularly in high-cash sectors like medical tourism where large international payments are common.