Japanese police arrest 6 crypto money laundering suspects, involving funds of approximately $580,000

According to Jiji Press and TBS, Japanese police have arrested six individuals suspected of using cryptocurrency to launder money for a fraud syndicate. Police investigations show the group allegedly processed approximately 91 million yen (about $580,000) in scam funds between February and March 2024, affecting around 30 victims. The funds were first deposited into a corporate bank account, exchanged for BTC, converted to USDT through overseas channels, and transferred back to the fraud ring, with those involved reportedly taking a 1% commission.