South Korean Authorities Uncover Major Counterfeit Luxury Goods Operation

South Korean customs officials have dismantled a large-scale counterfeit luxury goods operation, according to Foresight News. The Incheon Main Customs Office seized approximately 77,000 fake items, which, if genuine, would be valued at around 120 billion Korean won. The suspects reportedly profited 16.5 billion won by selling these counterfeit goods through online platforms. A portion of the illicit earnings, approximately 500 million won, was converted into cryptocurrencies like Bitcoin and stored in hardware wallets to evade seizure. Authorities have confiscated these digital assets and frozen additional assets, including apartments, hotels, and luxury vehicles, worth about 8 billion won.