Russian Crypto Heist in Seoul Nets $730K—One Arrested, Two Still on the Run

Seoul’s crypto underworld just got a lot more interesting—or dangerous, depending on your portfolio. A Russian national’s been nabbed for a slick $730K digital asset grab, but two accomplices are still ghosting authorities. Talk about exit liquidity.

Law enforcement’s playing whack-a-mole with crypto bandits, but these guys clearly didn’t get the memo about Korea’s tightening crypto regs. Or maybe they did—and just treated it like another Terms of Service checkbox.

While the arrested suspect cools his heels, the other two are proving that in crypto, anonymity isn’t just for wallets anymore. Stay tuned—this story’s got more twists than a DeFi exploit.

South Korea Police Bust Violent Robbery Disguised as Crypto Trade

According to the Gangseo Police Precinct, the incident happened on May 21 at a hotel in Seoul’s Gangseo District. Police say the suspects lured 10 Korean men to the hotel under the pretense of a peer-to-peer cryptocurrency transaction.

Eight of the victims were asked to wait in the lobby, while two were invited to a room upstairs to finalize the deal.

The suspects had prepared for an ambush inside the room, hiding in the bathroom, wearing protective vests.

As the two Korean men entered, the attackers jumped out and assaulted them, with one of the suspects carrying a replica handgun. The victims were tied with cable ties and beaten with a telescopic baton and fists.

The situation escalated quickly as one of the victims managed to escape and ran to the lobby, where he warned the others.

The attempted robbers tried to flee with a bag containing the cash but failed when the rest of the group intervened.

Police received a report at around 8:30 p.m. about a bleeding man in the hotel lobby. When officers arrived at the scene, they discovered the attackers had already fled.

A search of the hotel room turned up a replica firearm, protective gear, a telescopic baton, and a cash counter, items investigators believe were prepared specifically for the planned theft.

Authorities identified the suspects through the name used to book the hotel room. The next morning, authorities filed a travel ban request using the name registered for the hotel booking.

However, it was later confirmed that one suspect had left South Korea shortly after the incident. A second accomplice is also believed to have fled the country.

“We have requested assistance from Interpol to track down the suspects who fled overseas,” a police official said.

“We are currently questioning the apprehended suspect on the motive and details of the crime and are considering filing for a pretrial detention warrant.”

Investigators believe the robbery was carefully planned, using the promise of a crypto trade to lure victims into a trap. The suspect now in custody may face serious charges as police work to locate the remaining fugitives.

The investigation is ongoing as authorities continue efforts to capture the remaining suspects and uncover more details about the planned heist.

South Korea Busts Scam Ring as France Faces Brutal Kidnappings

The arrest of a Russian national in Seoul over a staged crypto deal and armed robbery attempt coincides with a growing wave of violent and organized crypto-related crimes globally.

In South Korea, authorities on May 14 dismantled a large-scale crypto investment scam, arresting 25 people linked to four criminal organizations.

According to the Jeju Metropolitan Police Agency, the group defrauded at least 48 victims of nearly 734 million won (around $540,000) by posing as investment advisers and luring victims to fake crypto platforms.

Victims were shown fabricated profits through manipulated dashboards and encouraged to invest more. When they tried to withdraw funds, scammers either delayed the process or disappeared altogether.

Meanwhile, in France, police have intensified crackdowns after a string of violent kidnappings targeting crypto-linked people. In one case, a victim’s finger was severed to pressure a ransom payment.

A shocking attempted kidnapping unfolded in central Paris when armed, masked men tried to abduct the daughter of a prominent cryptocurrency executive and her two-year-old child in broad daylight.#Crime #Crypto https://t.co/LmQxccrcJr

Another attempted abduction involved the daughter of a crypto exchange CEO. Authorities believe both incidents are tied to a single criminal network operating across multiple regions.

Authorities across both countries are warning of a sharp rise in organized criminal activity targeting the crypto sector, with scammers and kidnappers exploiting both digital and physical vulnerabilities.