Nikolas Sargeant
Police in South Korea's Jeju Island Province have arrested a woman in her 40s for allegedly stealing cryptocurrency worth $481,000 from someone she met through a mobile chat app. The incident, reported on January 16, has raised concerns about the security of digital assets and trust in online relationships.
How the Crypto Theft Unfolded
According to the Jeju Dongbu Police Station, the suspect allegedly stole her victim's cell phone from their home in Jeju City late on January 7. Police believe she had gathered the victim's personal information beforehand, enabling her to unlock the device. Using the stolen phone, she allegedly converted approximately 700 million won ($481,000) worth of cryptocurrency to cash and transferred it to her personal accounts.
The suspect attempted to flee, boarding a flight to mainland South Korea on January 8. However, swift action by law enforcement led to her arrest at a hotel in Gumi, North Gyeongsang Province, after the victim reported the theft.
From Online Friendship to Criminal Investigation
The investigation revealed that the suspect and victim had connected through a mobile chat application several months before the incident. During police questioning, the woman reportedly admitted to committing the theft to address her personal debts. She now faces potential charges of fraud and theft, along with possible violations of the Act on the Aggravated Punishment of Specific Economic Crimes.
Growing Concerns Over Crypto-Related Crimes
This incident adds to a series of recent cryptocurrency-related crimes in South Korea. In December 2023, authorities sentenced a bank employee to 15 years in prison for embezzling funds to purchase cryptocurrency. A month earlier, a court handed down a 12-year sentence to a fraudster who scammed investors with a fake theme park project near the North Korean border. These cases highlight the increasing challenges authorities face in combating cryptocurrency-related crimes.
