Jo Joo-bin gave fake accounts to confuse the investigation... "2 out of 3 are fake"

Real Address Revealed in 1-on-1 Transaction Chat
Police Focus on Verifying Financial Transaction Records

Jo Joo-bin, the operator of the 'Doctor's Room' who threatened dozens of women including minors on the internet messenger Telegram and forced them to film obscene materials which were then distributed, is coming out of Jongno Police Station in Seoul on the morning of the 25th to be sent to the prosecution. / Photo by Moon Honam munonam@

[Asia Economy Reporter Yoo Byung-don] The police are investigating the cryptocurrency wallet of Jo Joo-bin (24), who operated the Telegram chatroom 'Baksa Bang' and produced and distributed sexual exploitation videos, along with his financial transaction records. It has been revealed that two of the three cryptocurrency wallet addresses posted in the paid chatroom were not actually Jo's.

The police are identifying members who paid money under the pretext of an 'entrance fee' to participate in the paid chatroom, while tracking the criminal proceeds Jo earned through illegal sexual exploitation.

On the morning of the 27th, the Cyber Safety Division of the Seoul Metropolitan Police Agency stated in a press briefing, "Two of the three cryptocurrency wallet addresses posted by Jo in the paid chatroom are not his."

A Seoul Metropolitan Police Agency official explained, "Since August last year until March this year, we have received over 2,000 transaction records from a cryptocurrency transaction agency and are selecting transaction details related to Jo's crimes."

Earlier, the police conducted raids on four places, including three cryptocurrency exchanges?Bithumb, Upbit, Coinone?and the transaction agency Best Coin, securing materials related to Jo.

The police especially obtained transaction records from Best Coin over the past eight months and are comparing them with cryptocurrency wallet information presumed to be held by Jo to find suspicious transactions.

Transaction agencies act as intermediaries for cryptocurrency trading. People who regularly use cryptocurrency can send money directly from their wallets to Jo's wallet, but otherwise, they go through the agency.

When money is deposited to the agency, it is converted into cryptocurrency and placed into the designated wallet, leaving 'traces' in the transaction process.

A police official said, "Additional raids are underway on the remaining agencies, and analysis is ongoing. If transactions were made using exchanges without going through agencies, identity verification is easier."

The police are also investigating how much criminal proceeds Jo earned by operating 'Baksa Bang,' receiving money from paid members, and producing and distributing illegal sexual exploitation materials.

Some have claimed that analysis of some of the cryptocurrency wallets Jo disclosed to members shows deposit and withdrawal transactions amounting to about 3 billion KRW, but the police said it is difficult to estimate the exact amount and distanced themselves from these claims.

A police official said, "Two of the three cryptocurrency wallet addresses posted by Jo to collect paid chatroom entrance fees were found to be ones circulating on the internet," adding, "They were not actually used by Jo."

It was investigated that Jo informed members of the 'real' account through one-on-one conversations when receiving money.

Jo reportedly stated that the reason for posting false cryptocurrency wallet information was to confuse investigations if his criminal activities were later detected.

The police said, "It is difficult to disclose the number of cryptocurrency wallet addresses and transaction counts related to the actual crimes," and that they will focus on the investigation based on the secured materials.

This content was produced with the assistance of AI translation services.