South Korean Ex-Police Chief Jailed in Crypto-Linked Bribery Scandal

A former senior South Korean police officer has been sentenced to six years in prison for accepting bribes tied to a cryptocurrency fraud investigation. The Uijeongbu District Court ruled on March 3 that the officer, identified only as 'A,' took 120 million won ($90,000) in cash and entertainment bribes from suspects between December 2023 and March 2024.

The defendant served at the Seoul Metropolitan Police Agency, overseeing major economic crime cases—including crypto fraud probes—giving him leverage to influence investigations. Judges condemned his 'blatant abuse of authority,' noting he treated his position as personal privilege while entertaining suspects under active scrutiny.

This case underscores mounting regulatory scrutiny of South Korea's crypto sector, where high-profile fraud investigations have surged alongside retail trading volumes. No specific cryptocurrencies were named in the indictment, but the ruling may heighten compliance pressures on exchanges like Upbit and Bithumb.