A Chinese national was murdered in a luxury hotel in Jeju City, South Korea, while trading cryptocurrency. Four individuals have been arrested in connection with the murder case. The killer also stole nearly $59,000 from the victim.
Murder in Korea: Chinese National Killed While Trading Cryptocurrency
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Chinese National Murdered While Trading Cryptocurrency in Korea
Wrench attacks are rising in the cryptocurrency space. Local reports state that a Chinese national was found dead in a luxury hotel in Jeju City, South Korea. The individual who was found dead was allegedly trading crypto while this happened.
The man, identified by Korean media as Mr. E, was found in his hotel room on February 24th with multiple stab wounds. Before this, an acquaintance reported that he could not contact the man, who went to the hotel to trade cryptocurrency.
Local authorities are currently investigating the case, and have already arrested four Chinese nationals that are suspected to have organized the crime. One of the perpetrators surrendered and others were arrested at other locations, including an airport and a hotel casino.
Reports indicated that besides murdering the trader, the assassin also ran away with nearly $59,000 belonging to the victim. However, it is still unclear if these funds were stolen in crypto or fiat.
No more details were shared by the local press as the local Jeju City police are currently investigating the details of the crime and the possible chain of events that led to the death of the victim.
This kind of crime linked to crypto, where attackers use violence or coercion, has been on the rise lately, with experts claiming this will become more common as crypto gets mainstream.
Another crime involving a kidnap and a crypto ransom was revealed this month when unsealed court records indicated that a family of four paid $15 million to be released in Chicago.
Read more: Grand Theft Crypto: Family Kidnapped for $15 Million Ransom in Chicago
Not even executives of crypto companies seem to be safe from these incidents. In January, Ledger co-founder David Balland was rescued after a two-day manhunt. Reports indicate the executive lost a finger that was sent along with a ransom note.
Read more: Ledger Co-Founder Kidnapped and Released After Intense Rescue Mission
