Illegal Money Transfer Ring Moves $42 Million in USDT Across South Korea-Russia Border

Authorities have exposed a significant illegal money transfer scheme involving the popular cryptocurrency stablecoin USDT, which moved a staggering $42 million from South Korea to Russia. The operation involved two Russian nationals and used non-bank services like convenience store kiosks and barcode payment systems to circumvent traditional financial controls. This case highlights the need for regulators to adapt their approaches as cryptocurrencies continue to integrate into international finance.