Cryptohack Roundup: South Korea Busts $102M Laundering Ring

Also: $7M Saga and $5M Makina Finance Exploits Rashmi Ramesh (rashmiramesh_) • January 22, 2026

Every week, Information Security Media Group rounds up cybersecurity incidents in digital assets. This week, South Korea dismantled a $102 million money laundering ring, Saga paused SagaEVM after a $7 million cross-chain exploit, Makina Finance lost about $5 million in an oracle manipulation attack, a Utah man sentenced to three years for fraud and illegal cash conversion and a software flaw that let traders win ethereum transaction auctions for free.

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South Korean customs authorities dismantled an international money laundering network they say moved nearly $102 million through cryptocurrency and the domestic banking system. The Korea Customs Service referred three suspects to prosecutors for violating the Foreign Exchange Transactions Act.

Investigators allege the group operated from September 2021 to June, disguising illicit transfers as ...