A woman in South Korea has been detained for allegedly stealing 700 million won ($480,000) worth of cryptocurrency from a friend she met in a chat group just a few months prior. On January 7, she broke into the victim’s home in the city of Jeju, stole her phone, accessed her crypto assets, and then sold them, transferring the proceeds to her own bank accounts.
Suspect Apprehended
Following the incident, the suspect fled but was soon located by police. She was arrested on January 8 in Gomi, North Jeolla Province. According to law enforcement, she admitted committing the crime to settle her debts. The investigation is ongoing.
Not the First Crypto Theft
This is far from the first case of cryptocurrency theft in South Korea. In December 2024, a former Woori Bank employee was sentenced to 15 years in prison for stealing 16.4 billion won ($10.9 million). The banker used fake loan documents to funnel money into cryptocurrency investments; however, his plan failed, and he lost $4.35 million in poor trades.
The court ordered him to return 10.52 billion won ($7.2 million) to the bank, but authorities only managed to recover $3 million of the stolen funds. The remaining $4 million could not be retrieved.
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