Data: The South Korean Customs Service discovered a total of about $4.3 billion in illegal transactions involving cryptocurrencies last year

According to Forkast, the Korea Customs Service discovered 15 cases of illegal transactions involving cryptocurrencies last year, accounting for nearly 70% of the total 8.2 trillion won in 1983 illegal overseas transactions, or 5.6 trillion won (about 4.3 billion U.S. dollars). , an increase of 211% over 2021 (1.8 trillion won). These illicit transactions utilize certain token “kimchi premiums” and mostly involve cases where the purpose of overseas financial transactions is false. Many transactions try to buy cryptocurrencies overseas at a lower price and then sell them in South Korea.