Crypto-Related Robbery Attempt Leads to Arrest in Seoul

South Korean authorities have apprehended one of three Russian nationals involved in an attempted robbery during a fake cryptocurrency deal in Seoul. The suspects allegedly lured Korean investors to a hotel, intending to steal approximately 1 billion won (around $730,000) in cash.

The Gangseo Police Precinct in Seoul detained a man in his 20s in Busan on May 27. The suspect is facing charges of assault and attempted robbery, while the other two suspects reportedly fled South Korea shortly after the incident.

The attempted robbery occurred on May 21 at a hotel in Seoul’s Gangseo District. The suspects posed as participants in a peer-to-peer cryptocurrency transaction and invited 10 Korean men to the hotel. Two of the victims were called to a room while the others waited in the lobby. Inside the room, the suspects, wearing protective vests, ambushed the victims with a replica handgun and a telescopic baton, tying their hands with cable ties.

One of the victims managed to escape and raise the alarm, prompting the suspects to flee without the cash. Police responded to an emergency call and found one man bleeding in the lobby. Officers discovered a cache of equipment in the suspects’ hotel room, including a replica firearm, batons, vests, and a money counter, indicating that the robbery had been carefully planned.

A request to prevent the suspects from leaving the country was filed the next morning, but two had already departed. Authorities have requested assistance from Interpol to track down the suspects who fled overseas. The detained suspect is currently being questioned, and authorities are preparing to seek a pretrial detention warrant.

This incident comes amid a recent increase in crypto-related violent crimes, including kidnapping and ransom cases. The rise in such incidents has led executives and investors in the crypto industry to seek personal security services more frequently. On May 18, a private firm reported a surge in requests for bodyguards and protection contracts from high-profile figures in the crypto space.