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Escaped South Korean Criminal Suspect Steals $362,000 in OTC Crypto Robbery
An escaped South Korean criminal suspect reportedly stole almost $362,000 worth of cash in an armed robbery on an OTC crypto buyer. Police say the suspect, aged in his 40s, lured a victim to Seoul’s affluent Gangnam District before stealing the money.
Background of the Incident
The Ministry of Justice stated that the suspect, who was being held on fraud charges at the Seoul Detention Center, escaped after being allowed to attend his father’s funeral in November 2023. The suspect did not return as agreed, leading to a search by the police.
Details of the Robbery
The suspect enticed the victim to Gangnam under the pretense of selling a cryptoasset at a discounted price. However, instead of completing the OTC deal, the suspect used a blunt weapon to threaten the victim and fled with the cash.
Arrest and Recovery
Police identified the suspect through evidence at the scene and arrested him. Additionally, a man and a woman suspected of aiding the escape were also apprehended. Most of the stolen cash has been recovered, and investigations are ongoing.
OTC Crypto Crimes in South Korea
South Korea has seen a rise in OTC crypto-related crimes this year, with multiple incidents reported across different regions. From thefts in Incheon and Geumcheon to a gang of OTC thieves in Gangnam, authorities are working to address the growing issue.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
