Foresight News reports that, according to YTN, the Korea Customs Service Incheon headquarters uncovered a corporate counterfeit luxury goods sales case. The fake goods involved approximately 77,000 items, with an estimated market value of about 120 billion KRW (approximately 90 million USD). The suspect profited 16.5 billion KRW (about 12.4 million USD) from online mall sales of the counterfeit goods and converted part of the criminal proceeds into cryptocurrencies such as Bitcoin. About 500 million KRW (approximately 380,000 USD) was stored in hardware wallets to evade seizure. Law enforcement has seized the related crypto assets and frozen assets including apartments, hotels, and luxury cars worth about 8 billion KRW (approximately 6 million USD).
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