Seoul police apprehend three in connection with cryptocurrency-related murder

The lead police officer states that they are unable to disclose the name of the crypto under investigation and will enlist the assistance of crypto experts from Seoul Metropolitan Police Agency to aid in the investigation.

Three individuals were apprehended in connection with the recent killing of a 48-year-old woman residing in Seoul’s Gangnam District. Judge Yoo Chang-hoon of the Seoul Central District Court granted arrest warrants due to concerns that the suspects may attempt to flee or destroy evidence.

The police suspect that the three conspired to abduct the woman in front of an apartment complex in Yeoksam-dong and subsequently murder her the next day in Daejeon, which is located 140 kilometers south of Seoul. The victim’s body was discovered on a mountain near Daecheong Dam on the outskirts of Daejeon. The suspects were captured by the police 42 hours after the abduction.

According to legal sources and media reports, the case is believed to be linked to disputes between the victim and Lee regarding cryptocurrency investments. Lee, who was employed at a law firm in Seoul and is 35 years old, claimed during the initial police inquiry that he had lost around 80 million won ($61,000) after investing money in the cryptocurrency firm where the victim was employed.

Since Lee is the only suspect who was personally acquainted with the victim and did not act alone in her murder, police are considering the possibility of murder for hire. Lee paid two other suspects approximately 7 million won, according to police.

The police have requested a search and seizure warrant for the victim’s bank account to determine the extent of cryptocurrency holdings and whether the suspects stole any funds.

The police officer in charge of the case from the Seoul Suseo Police Station stated that they cannot disclose the name of the cryptocurrency involved and that they will dispatch cryptocurrency experts from the Seoul Metropolitan Police Agency to assist in their investigation.

Lee and the victim had previously faced a police investigation related to a cryptocurrency extortion case in February 2021, in which they and 16 others threatened an individual after their purchased cryptocurrency’s value plummeted. The group extorted about 190 million won worth of cryptocurrency from the individual, but Lee and the victim did not receive any of the stolen assets.

As Lee and the victim had invested in the same cryptocurrency and were involved in the 2021 criminal case, police officers investigating the murder believe that Lee had knowledge of the victim’s assets.

In addition to the three suspects already apprehended, another suspected accomplice was booked by the police on Monday, and they are continuing to investigate the possibility of other accomplices being involved in the crime. Testimony has been obtained suggesting that there were two more accomplices.

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