South Korea indicts 304 in year-long crackdown on virtual asset crimes

The Justice Ministry and prosecutors said they seized and preserved KRW 381.4 billion in illicit proceeds as authorities widened action against financial, securities and crypto-related offenses.

Summary

South Korea’s Ministry of Justice and the Supreme Prosecutors’ Office said they indicted 304 people over the past year for financial, securities and virtual asset crimes, while seizing illegal proceeds worth KRW 381.4 billion. The broader crackdown also targeted other offenses viewed as threats to public safety, including voice phishing and drug crimes. Financial and virtual asset investigations were led by the Seoul Southern District Prosecutors’ Office, which said its work from June 2025 to May 2026 resulted in 25 arrests and major asset seizures.

Terms & Concepts
  • virtual asset crimes: Offenses involving crypto-related assets and transactions.
  • voice phishing: A phone-based fraud scheme used to extract money or sensitive information.