On March 4th, South Korean police announced the recent dismantling of a “private revenge” group that used cryptocurrency payments. Several suspects were arrested for harassment and vandalism. According to an arrest warrant issued by the Suwon District Court, a man in his twenties (surname Im) is suspected of breaking into a resident’s apartment in Dongtan New Town, Gyeonggi Province, spraying red paint, scattering trash, distributing defamation flyers, and leaving feces at the scene.
Investigations revealed that the suspect received instructions via encrypted messaging app Telegram, indicating a certain level of organization. Police disclosed that all those arrested stated they received between 500,000 and 1 million Korean won (approximately $380 to $760 USD) in cryptocurrency as payment for their tasks. Previously, on February 24th, another man in his twenties was detained for similar vandalism targeting multiple residences in Sanbon-dong, Gunpo City. Prosecutors noted that the suspects’ actions appeared coordinated with the orchestrators, involving multiple cities and cases.
Authorities are currently tracking the mastermind behind the scenes and reviewing a similar incident that occurred in Pyeongtaek City in December last year, which preliminary analysis suggests involved similar methods. The case is still under investigation to identify more involved individuals and potential high-level organizers. Officials stated that these events highlight how social media and encrypted platforms can be misused to organize and incite harassment, and they pledged to pursue the culprits and prevent the misuse of encryption technology for illegal activities.
Experts point out that as cryptocurrency transactions become more anonymous and cross-border, such crimes may increase. Police and legislative bodies are strengthening regulation and monitoring of crypto payments and online command crimes to ensure public safety and residents’ rights.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Court ruling: sports betting contract is a derivative! The U.S. CFTC blocks local law enforcement, seeking regulatory authority over prediction markets
The U.S. federal government is working jointly with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from local governments to the federal level, arguing that sports event contracts are financial derivatives. If the court backs this position, it would change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of local wagering laws.
CryptoCity2h ago
Sports-betting event contracts are derivatives! The U.S. CFTC blocks local law enforcement and seeks regulatory authority over prediction markets
The U.S. federal government is working with the CFTC and the Department of Justice to try to transfer regulatory authority over Kalshi prediction markets from local governments to the federal level, arguing that sports event contracts are financial derivatives. If the court supports this position, it will change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of state-level gaming laws.
CryptoCity5h ago
Senators Probe Trump Token Activity as Political and Financial Risks Emerge
Lawmakers are intensifying scrutiny of a Trump-linked memecoin event as concerns grow over potential financial conflicts, market volatility, and the influence of token-based access models tied to political activities.
Key Takeaways:
Senators Warren, Schiff, and Blumenthal probe TRUMP token event
Coinpedia6h ago
A court rules that sports betting contract agreements are derivatives! The US CFTC blocks local law enforcement and fights for regulatory control of prediction markets.
The U.S. federal government is working jointly with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from local governments to the federal government, arguing that sports betting contracts are financial derivatives. If the court supports this position, it will change the legal status of prediction markets and unify regulation nationwide, reducing the impact of local gambling laws.
CryptoCity8h ago
Holding sports betting contracts as derivatives! The U.S. CFTC blocks local enforcement and seeks regulatory control over prediction markets
The U.S. federal government is working with the CFTC and the Department of Justice to try to shift regulatory authority over Kalshi prediction markets from state and local governments to the federal government, arguing that sports betting contracts are financial derivatives. If the court supports this position, it would change the legal status of prediction markets and standardize regulation nationwide, reducing the impact of state and local gambling laws.
CryptoCity11h ago
Polymarket Investigation Demanded by Congress After 50 New Accounts Bet on Iran Ceasefire Before Trump Announced It
Congressional scrutiny arises over Polymarket after over 50 new accounts placed bets on a US-Iran ceasefire just before Trump's announcement. Lawmakers are demanding a CFTC investigation, highlighting concerns about insider trading and the platform's regulatory status.
Cryptonews11h ago
