South Korean Money Changer Sentenced to 2 Years for 15.5 Billion Won in Unreported Digital Asset Trades Linked to Huiyuan Group

According to Seoul Central District Court, on June 9, a South Korean money changer in his 40s was sentenced to two years in prison and ordered to forfeit 133 million won for unreported digital asset transactions totaling 15.5 billion won linked to Cambodia's Huiyuan Group, a money laundering organization.

The defendant operated an exchange service under directions from Huiyuan Group members, purchasing digital assets on domestic exchanges or receiving overseas-purchased assets to resell. He conducted 194 transactions between 2022 and 2024 without financial authority disclosure, and processed 2.9 billion won in unregistered foreign exchange transfers across 135 transactions from 2021 to 2023. This marks the first confirmed conviction for digital asset money laundering connected to Huiyuan Group, which the U.S. Treasury's Financial Crimes Enforcement Network sanctioned in October 2025.