A South Korean woman in her 40s has been sentenced to two years in prison after stealing nearly $500,000 in cryptocurrency from her sleeping boyfriend, marking one of the latest in a string of crypto-related crimes in the country.
The South Korean woman, identified only as “A,” was convicted on May 15 by the Jeju District Court for embezzlement and fraud after she transferred ₩683 million (488,000) in crypto from her partner’s wallet. She also took ₩ 2 million (South Korean woman and a tale of betrayal in the night
Court documents revealed that the South Korean woman accessed her boyfriend’s crypto wallet in the early hours of January 5 while he was sleeping. She allegedly transferred the funds to her own account before fleeing with his phone and cash.
Prosecutors argued that the theft was premeditated, given the large sum involved.
“The defendant exploited the victim’s trust in a calculated manner,” the prosecution stated.
Despite her legal team’s claims that she had returned most of the stolen funds, leaving only ₩21.9 million ($15,600) in losses, the judge showed little leniency.
A history of fraud by the South Korean woman
The court noted that the South Korean woman had two prior fraud convictions and was already on trial for another fraud case at the time of the theft.
“The total amount of damage is large, and the defendant has a history of similar crimes,” the judge ruled. “This warrants a strict sentence to prevent further offenses.”
Legal experts say the case highlights the risks of digital asset theft in relationships. “Crypto transactions are irreversible, making them an easy target for exploitation,” said Kim Ji-hoon, a Seoul-based financial crimes lawyer. “Once the funds are moved, recovery is nearly impossible without legal intervention.”
A growing trend of crypto crimes in South Korea
This South Korean woman’s case adds to a troubling rise in crypto-related crimes in South Korea, particularly in Jeju, where peer-to-peer trading has led to theft, scams, and even violence.
In February, a man in his 30s was found stabbed to death in a Jeju hotel after arranging a private crypto exchange. Authorities later arrested four Chinese nationals linked to the murder and theft of ₩85 million ($63,000).
Just weeks later, six more Chinese nationals were detained for stealing ₩840 million ($610,000) from two traders after a violent altercation.
A global problem
The issue isn’t confined to South Korea. In Florida, 22-year-old Maissa Jebali was arrested in April for allegedly stealing $850,000 worth of Trump-themed meme coins from her ex-boyfriend after a fight on his yacht. She now faces grand theft charges and possible deportation.
Back in South Korea, authorities are stepping up efforts to regulate crypto transactions.
“We’re seeing an increase in fraud cases involving digital assets,” said Park Min-kyu, a senior investigator at the Korea Financial Intelligence Unit. “Stronger verification processes for high-value transactions may be necessary.”
The victim’s ordeal
The victim, whose identity was also withheld, told local media that he had no idea his girlfriend was capable of such betrayal.
“I trusted her completely,” he said. “When I woke up and saw the transactions, I felt sick.”
He has since filed a civil lawsuit to recover the remaining stolen funds from the South Korean woman, but legal experts say the process could take months, if not years.
This case serves as a stark reminder of the vulnerabilities in digital asset security, even among trusted partners.
What’s next?
The South Korean woman is expected to appeal the sentence, but legal analysts say her prior convictions weaken her case. Meanwhile, her ex-boyfriend is left picking up the pieces, both financially and emotionally.
“This wasn’t just about money,” he said. “It was a complete violation of trust.”
With crypto-related crimes on the rise, authorities are under pressure to implement stricter safeguards before more victims suffer the same fate.
