Authorities detect sharp rise in illegal forex transactions

Authorities detect sharp rise in illegal forex transactions via cryptocurrency purchases

More than 10 trillion won ($7.4 billion) has been channeled into illegal foreign exchange transactions over the past five years amid rising public interest in cryptocurrency transactions. Capitalizing on the price discrepancy between the domestic and foreign markets, individuals were found to have purchased cryptocurrencies from overseas markets and resold them in the domestic market for a profit.

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