Police: 'Thorough Investigation Underway into Huiwon in Cambodia for Possible Links to North Korean Hacking Group'

[Financial News] The police are investigating possible connections between Huiwon, a virtual asset exchange known as a money laundering route for criminal organizations in the Kingdom of Cambodia, and a North Korean hacking group.
An official from the National Office of Investigation stated at a regular press briefing on the 10th, "We plan to thoroughly investigate the possible links between the Cambodian exchange and the North Korean hacking group."
On the 15th of last month, the Security Investigation Division, Seoul Metropolitan Police Agency, conducted a search and seizure at the domestic exchange Upbit. Authorities are analyzing seized materials to verify the identities of over 200 foreign users.
Previously, Dunamu Inc., the operator of Upbit, reported to law enforcement that there was a high risk of money laundering, as individuals were receiving virtual assets from Huiwon, an exchange in the Kingdom of Cambodia. Huiwon is known as a channel for money laundering by North Korean hacking groups.
The Prince Holding Group, believed to be behind criminal organizations in the Kingdom of Cambodia, is under investigation by the Criminal Investigation Unit of the Seoul Metropolitan Police Agency for suspected concealment of criminal proceeds and other related offenses.
The number of Korean nationals who left for the Kingdom of Cambodia and whose whereabouts remain unknown has risen to 167. Previously, police announced that as of the 23rd of last month, 513 suspected cases had been reported, with 218 individuals not having returned, and the safety of 162 of them still unconfirmed. As of the 5th of this month, 541 suspected cases had been reported, with 247 individuals not having returned.
Police are investigating 119 cases of crimes targeting Koreans in the Kingdom of Cambodia, including investment chat rooms and romance scams. Crimes occurring outside Cambodia include 14 cases in the Philippines, 9 in China, 7 in the Kingdom of Thailand, 6 in Vietnam, and 3 in Laos.
unsaid@fnnews.com Kang Myung-yeon Reporter