South Korean police arrested 19 members of a fraud ring suspected of money laundering and seized approximately 6 billion won in criminal proceeds. The gang used an unregistered virtual asset exchange to convert fraud cash into USDT and transfer it overseas, with money laundering amounts reaching hundreds of billions of won.

Seoul police uncovered a money laundering case involving an unregistered virtual asset exchange, arresting 19 members with suspected proceeds totaling hundreds of billions of won. The group converted cash obtained from telecommunications fraud into Tether (USDT) and transferred it overseas. Police seized approximately 6 billion won in assets.

Hong Kong police launched the "Thunder Drum" operation on March 18, arresting 6 people involved in a loan fraud ring offering low-interest loans, with amounts involved totaling approximately 5 million Hong Kong dollars. The group impersonated fake bank employees to deceive victims and collected deposits through cryptocurrency. The victims included highly educated individuals. The operation is still ongoing.

ChainCatcher News, according to official sources, BitRing announced the launch of a pre-sale event for its smart rings. The 1-gram pure gold smart ring will be priced in real-time to match the current gold price. This limited pre-sale will include 50,000 units and requires strict KYC verification. Partner exchanges will oversee the process to ensure transparency. The project stated that a $3 million subsidy will be invested in this pre-sale event to directly connect the supply chain and reduce middlemen and premiums. Users need to follow their social media accounts and complete designated interactions to qualify for participation.

ChainCatcher News, according to official sources, BitRing announced that it will implement a price reduction strategy. Its pure gold ring is priced at 498, aligned with the standard Oura4 ceramic version; the Mosang diamond version is priced one dollar lower than the Oura4. The strategy aims to attract users with unprofitable flagship products and expand market share.

AI Health Technology Platform Bitring announces it will launch a new product this month, with pricing divided into two tiers, targeting Oura. The 24K pure gold ring version is priced lower than Oura, and the company will shift towards a software subscription service. At the same time, it has completed buybacks for early investors and will no longer provide services to users in Mainland China.

On January 27, news broke that a senior Thai electricity official was involved in a scandal over illegal cryptocurrency mining, drawing significant attention from local regulators. The Thai Department of Special Investigation (DSI) revealed that four senior officials from the Provincial Electricity Authority (PEA) are suspected of abusing their authority to operate an illegal Bitcoin mining ring. Police confiscated thousands of mining devices and cash deposits worth approximately $612,900 at the residence of an assistant director. According to the Bangkok Post, the DSI conducted raids on three residences, seizing mining equipment, cash, laptops, mobile phones, and bank passbooks. Major General Ruttapong Nuwarat of the Thai police stated that this operation is part of the "Copperhead Snake Operation," which was launched in December 2025 to combat criminal networks involved in money laundering and illegal assets. On January 19, DSI officials seized a total of 3,642 cryptocurrency mining devices and uncovered evidence related to financiers and government officials.

PANews January 19 News, according to Yonhap News Agency, the Seoul Customs Office recently uncovered a gang involved in illegal foreign exchange transactions using domestic and overseas cryptocurrency accounts, with a case amounting to 148.9 billion KRW (approximately $1.13 billion). The gang collected payments via WeChat Pay and Alipay, then purchased overseas cryptocurrencies to transfer into local wallets and cash out, allegedly violating the Foreign Exchange Transactions Act. Three suspects include a Chinese male in his 30s. Their business activities cover trade, studying abroad, medical aesthetics, and other fields, even recruiting clients by exchanging currency for surgical fees. The case has been handed over to prosecutors for processing.

Vietnamese police in Da Nang have arrested five suspects involved in operating a cryptocurrency scam ring, which is based in Cambodia and embezzled approximately $532,800. The suspects used telecommunications networks and fake accounts to deceive investors and conceal the source of funds.