Crypto-linked crime from South Korea to Cambodia has skyrocketed 1,400 times in the past year, revealing alarming gaps in anti-money laundering (AML) oversight.

Transfers between the two nations, largely involving USDT stablecoins, have drawn scrutiny after Korean exchanges like Bithumb and Upbit processed billions of won in suspicious transactions. Much of this capital reportedly flowed to Huione Guarantee, a Cambodian platform sanctioned by the U.S. and U.K.

Experts say the spike underscores how stricter local enforcement in Korea has driven criminal syndicates offshore.

“It’s extremely difficult to detect all suspicious transactions before they occur,” said Youchull Jung, a white-collar crime attorney at Lee & Ko. The transfers highlight how foreign jurisdictions like Cambodia and th

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