Recent OTC Crypto Theft in South Korea: Escaped Criminal Suspect Steals $362,000

The recent surge in OTC crypto-related crimes in South Korea has taken a dramatic turn with the news of an escaped criminal suspect stealing almost $362,000 in cash in an armed robbery. The suspect, who had been on the run since escaping from the Seoul Detention Center in November 2023, reportedly lured a victim to Seoul’s Gangnam District under the guise of selling a cryptoasset at a discounted price.

The victim, expecting to complete an OTC deal, was instead met with a blunt weapon and robbed of the cash before the suspect fled the scene. Police were able to identify the suspect and make an arrest, recovering most of the stolen cash in the process. Additionally, two individuals believed to have assisted the suspect in his escape were also arrested.

This incident is just one in a series of OTC crypto-related crimes that have plagued South Korea in recent months. With the speculative demand for risky tokens on the rise, authorities are working diligently to crack down on these criminal activities and protect investors from falling victim to such scams. Stay tuned for more updates on this developing story.