South Korean authorities are investigating alleged code-related murders of Chinese citizens on Jeju Island. Police believe that a crime may have occurred during a cryptocurrency exchange transaction.
Four people have been arrested, including suspects who fled.
On February 25, Jeju West Police questioned four Chinese citizens in connection with the murder of two women in their 30s, a man in their 30s and a man in his 60s, who was identified as Mr. A. It was announced that this is. Even in his 30s. The victim was found dead in a luxury hotel room in Jeju on the afternoon of February 24th after an acquaintance of him reported missing at around 5:10pm.
Suspect and arrested
Police said the victim had planned to buy crypto assets before the loss of failure. Police found Mr. A’s body and showed multiple stab wounds. Following the investigation, one of the suspects, a woman in her 30s, looked back at herself, and the other suspects were arrested at Jeju International Airport, where she tried to flee the country.
Investigating stolen funds
Police suspect the suspect stole 85 million KRW (approximately $59,000) from the victim, but the exact motive remains unknown. Four suspects who were tourist visas in Jeju are reportedly investigating their role in the crime. Authorities believe the surrendered woman could be a major suspect and are investigating whether a crime occurred during the cryptocurrency exchange.
Rising crypto crime in Jeju
The incident marks Jeju’s second major crypto-related crime in 2025. In early January, six Chinese gangs were arrested for allegedly stealing $580,000 worth of cryptocurrency from hotel guests.
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