- Trending
- Comments
- Latest
A violent crypto robbery has rocked South Korea’s capital as police arrested a Russian national involved in a failed $730,000 theft under the guise of a peer-to-peer crypto transaction.
The suspect, now in custody, is accused of assault and attempted robbery, while two accomplices are believed to have fled the country—triggering a global manhunt.
The high-stakes crypto robbery unfolded on May 21 in the Gangseo District of Seoul, where the suspects posed as legitimate crypto traders and lured 10 Korean investors to a hotel for a fake P2P exchange deal.
According to the Gangseo Police Precinct, two investors were invited to the hotel room while the rest waited in the lobby. What seemed like a routine transaction turned into a brutal crypto robbery attempt.
Wearing tactical vests, the suspects ambushed the victims using a replica handgun and a telescopic baton, binding their hands with cable ties.
“One of the victims managed to escape and alert authorities,” a police spokesperson told JoongAng Daily. “That quick reaction likely prevented a major financial loss or serious injury.”
When police arrived at the scene, they found one man bleeding in the hotel lobby and seized a chilling collection of equipment from the suspects’ room—replica weapons, vests, batons, and even a money counter. Investigators say the crypto robbery was premeditated and executed with precision.
Although a travel ban was requested on the morning of May 22, two suspects had already fled South Korea. Police have since filed a request with Interpol for international assistance to track the fugitives.
“We are coordinating with global law enforcement to bring the remaining suspects to justice,” an official from the Seoul Metropolitan Police confirmed.
The arrested individual, a Russian man in his 20s, was captured in Busan on May 27, according to reports. Authorities are now questioning him and preparing to apply for a pretrial detention warrant. His identity has not yet been released due to ongoing investigations.
This crypto robbery is the latest in a disturbing rise of crypto-linked violence worldwide. Just this month, multiple high-profile attacks have raised red flags among investors and security agencies.
On May 13, the family of Pierre Noizat, CEO of French crypto exchange Paymium, was nearly kidnapped in France. Days later, a Manhattan-based investor was arrested for allegedly torturing an Italian national to gain access to digital wallets.
“These are not isolated incidents—they’re part of a growing pattern,” said Marc Canter, a security consultant at Infinite Risks International. “We’ve seen a surge in private security requests from crypto founders and whale investors over the past six months.”
In fact, Infinite Risks reported a 20% rise in contracts for bodyguards and armored transport services from crypto industry players—many of whom prefer to remain anonymous.
While crypto hacks and online scams have long dominated headlines, violent, in-person crimes like this crypto robbery signal a troubling new era.
As crypto gains global traction and its participants accumulate substantial wealth, criminals are evolving their tactics—moving from screens to real-world setups.
The Korean incident also raises questions about investor safety, regulatory protection, and how law enforcement is adapting to a rapidly changing threat landscape.
This crypto robbery is a wake-up call for the global crypto community. As crypto robbery cases grow more violent, criminals are now staging real-world ambushes to steal digital assets.
With crypto robbery evolving beyond online scams, industry leaders must urgently rethink security protocols.
This failed crypto robbery in Seoul isn’t just an isolated event, but a dangerous blueprint for what’s to come if stronger protections aren’t enforced. The Bit Gazette will continue to observe the market and report as events unfold.
Copyright © 2025 - The Bit Gazette.
