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South Korean authorities are investigating the suspected crypto-related murder of a Chinese national in Jeju Island. Police believe the crime may have occurred during a crypto asset exchange transaction.
Four Arrested, Including Attempted Fleeing Suspects
On February 25, Jeju West Police announced that they were questioning four Chinese nationals, including two women in their 30s, a man in his 30s, and a man in his 60s, in connection to the murder of a man identified as Mr. A, also in his 30s. The victim was found dead in a luxury hotel room in Jeju City on the afternoon of February 24, after his acquaintance reported him missing at around 5:10 PM.
Suspects and Arrests
According to police, the victim had been planning to purchase crypto assets before his disappearance. Police discovered Mr. A’s body, which showed multiple stab wounds. Following the investigation, one of the suspects, a woman in her 30s, turned herself in, while the other suspects were apprehended at Jeju International Airport as they attempted to flee the country.
Investigation into Stolen Funds
The police suspect that the suspects stole 85 million KRW (around $59,000) from the victim, but the exact motive remains unclear. The four suspects, who were reportedly in Jeju on tourist visas, are under investigation for their roles in the crime. Authorities believe the woman who surrendered may be the primary suspect and are exploring whether the crime occurred during a cryptocurrency exchange.
Rising Crypto Crimes in Jeju
This incident marks the second major crypto-related crime in Jeju in 2025. Earlier in January, a gang of six Chinese nationals was arrested for allegedly stealing $580,000 worth of cryptocurrency from a hotel guest.