South Korea Makes First Arrests in Major Crypto-Linked Inquiry – Bloomberg

South Korean prosecutors made their first arrests in a probe of $3.4 billion worth of foreign-exchange transactions for possible links to illegal cryptocurrency-related activities.

Three people were held on allegations including setting up paper companies and operating a cryptocurrency trading business without registration, the Daegu District Prosecutors’ Office said in a text message on Thursday.

Source: South Korea Makes First Arrests in Major Crypto-Linked Inquiry – Bloomberg