S Korean City of Incheon Seizes $375,000 Worth of Crypto from ‘Tax Dodgers’

The South Korean city of Incheon has allegedly confiscated over $375,000 worth of cryptocurrency from three people who were involved in tax evasion. According to a report from The Financial News, the Incheon Metropolitan Government seized 2.2 billion won ($1.87 million) worth of cryptocurrency from the three tax dodgers as part of an effort to recover unpaid taxes. An official from the Incheon Metropolitan Government commented that, “The Incheon Metropolitan Government will actively take action to identify tax crimes and combat unethical tax practices.”


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