According to Foresight News, eight members of a South Korean criminal group involved in a Chinese telecom fraud organization have been arrested for assisting in converting criminal proceeds into cryptocurrency. The police reported that the group laundered money using fake bank accounts, converting 280 million KRW (approximately $208,000) obtained from six victims into cryptocurrency. The converted funds were then transferred to the Chinese organization, earning the group a commission of 10% to 40%. To evade police detection, the group members communicated exclusively through Telegram.