The prosecution has seized 4.4 billion KRW worth of virtual assets, including Ethereum, from individuals running an illegal foreign exchange operation. Reported by Yonhap News, the group allegedly amassed hundreds of millions of KRW in fees by engaging in "Hwanchigi," an unregistered foreign exchange business. Since 2019, they are accused of illegally exchanging money by receiving remittances from the public and charging Neteller fees, a UK-based payment system, for their services. This circumvents standard financial regulations. Law enforcement is cracking down on unregistered foreign exchange activities that utilize cryptocurrencies, which are prone to money laundering. The investigation is ongoing. This seizure highlights the increasing scrutiny of virtual assets and their potential use in illegal financial schemes. ```

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