• Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021
No Result
View All Result
CryptoABC.net
No Result
View All Result

South Korean Ex-Police Officer Jailed for Taking $82K in Bribes Linked to Crypto Investigations

March 5, 2026
in Australian Crypto News
Reading Time: 2min read
0 0
A A
0
South Korean Ex-Police Officer Jailed for Taking $82K in Bribes Linked to Crypto Investigations
0
SHARES
0
VIEWS
ShareShareShareShareShare
  • A former senior Seoul Metropolitan Police Agency officer received a six-year prison sentence and a 100 million won fine for accepting about 120 million won.
  • The payments, roughly 50 million won in cash and 70 million won as “entertainment fees”, were accepted between December 2023 and March 2024 while the officer held direct responsibility for investigating crypto fraud.
  • The Uijeongbu District Court’s Goyang branch ruled the conduct “greatly undermines the fairness and appropriateness of the job and social trust”.

A former senior officer with the Seoul Metropolitan Police Agency has been sentenced to six years in prison for accepting bribes from individuals under investigation for cryptocurrency fraud.

The Goyang branch of the Uijeongbu District Court convicted the officer, identified as “Person A” under South Korean court reporting rules, of aggravated bribery, solicitation of bribes and fraud. The court also imposed a 100 million won fine, equivalent to about US$69,000 (AU$105,570).

According to a report from local outlet Chosun Ilbo, prosecutors said the officer received roughly 120 million won, or about US$82,000 (AU$125K) in payments between December 2023 and March 2024 while assigned to cryptocurrency fraud investigations at the Seoul Metropolitan Police Agency.

About 50 million won of the payments were delivered directly in cash, while the remaining 70 million won was provided through so-called “entertainment fees,” covering hospitality and services rather than direct transfers.

A law firm office manager identified as “Person B” arranged introductions between the officer and the bribery sources. Person B was sentenced to two and a half years in prison and fined 50 million won, or about US$34,500 (AU$52K).

Read more: War Wagers Surge as Conflict Betting Hits Record $2.4B and Scrutiny Mounts

Court Says Conduct Undermined Investigations

The court said the officer abused his authority by associating with individuals who were active targets of criminal investigations.

In its ruling, the bench stated the defendant treated his position “as power” and accepted money and entertainment while interacting with suspects. Judges said the conduct severely damaged public trust and undermined the integrity of law enforcement.

Prosecutors said the payments effectively neutralised investigations involving those individuals during the four-month period in which the bribes were received.

The case adds to a series of cryptocurrency-related enforcement failures in South Korea. In one earlier incident, Seoul Metropolitan Police lost 22 Bitcoins worth about US$1.4 million (AU$2.14 million) due to improper evidence storage. 

Separate bribery investigations in late 2025 also led to indictments of several police officials linked to a US$186 million (AU$284.58 million) cryptocurrency money-laundering operation. Legal commentators have since called for stronger oversight of officers handling digital asset investigations.

Related: Chainlink Bridges US$5B in Coinbase’s cbBTC to Monad, Expanding Bitcoin Liquidity in DeFi

Credit: Source link

ShareTweetSendPinShare
Previous Post

Taiwan Indicts 62 People Over Alleged Links to Prince Group Criminal Network

Next Post

Banks Push Back After Fed Grants Kraken Financial Access to Payment Rails

Next Post
Banks Push Back After Fed Grants Kraken Financial Access to Payment Rails

Banks Push Back After Fed Grants Kraken Financial Access to Payment Rails

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You might also like

Ethereum’s Long-Awaited Account Abstraction Set for Hegota Upgrade

Ethereum’s Long-Awaited Account Abstraction Set for Hegota Upgrade

March 2, 2026
Bitcoin Addresses Holding Between 100 and 10,000 BTC Hit a 7-Week High

ElevenLabs Launches Generative Voice AI Tool for Custom Synthetic Voices

March 6, 2026
Solana Price Prediction: SOL Just Reclaimed a Critical Level — Is $100 Back in Play?

Solana Price Prediction: SOL Just Reclaimed a Critical Level — Is $100 Back in Play?

March 3, 2026
Mt. Gox’s Karpelès Proposes Bitcoin Hard Fork to Recover US$5.2B in Lost Funds

Mt. Gox’s Karpelès Proposes Bitcoin Hard Fork to Recover US$5.2B in Lost Funds

March 2, 2026
Seasoned Trader Says Final Bitcoin Flush Is Coming, Here’s The Target

Seasoned Trader Says Final Bitcoin Flush Is Coming, Here’s The Target

March 3, 2026
Cardano’s ADA Now Accepted at Swiss Spar Supermarkets Through DFX Integration

Cardano’s ADA Now Accepted at Swiss Spar Supermarkets Through DFX Integration

March 6, 2026
CryptoABC.net

This is an Australian online news/education portal that aims to provide the latest crypto news, real-time updates, education and reviews within Australia and around the world. Feel free to get in touch with us!

What's New Here!

Bitcoin Bounce Fails As Short-Term Holders Rush To Take Profit

Bitcoin Bounce Fails As Short-Term Holders Rush To Take Profit

March 7, 2026
Vitalik Buterin Says Ethereum Should Be Bolder, Here’s Why

Vitalik Buterin Says Ethereum Should Be Bolder, Here’s Why

March 7, 2026

Subscribe Now

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 cryptoabc.net - All rights reserved!

No Result
View All Result
  • Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021

© 2021 cryptoabc.net - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter CoinGecko Free Api Key to get this plugin works.