[Exclusive] Police Launch Full Reinvestigation into 'Coin Incident' Triggering Gangnam Kidnapping and Murder

Police Reinvestigate Case Involving Yu Couple
Seoul Central District Prosecutors' Office Forms Dedicated Investigation Team

The police have confirmed that they have officially launched a reinvestigation into multiple complaints and accusations involving Mr. Yoo and Mrs. Hwang, a couple suspected to be the masterminds behind the Gangnam kidnapping and murder case.

Among the couple, Mr. Yoo was arrested on the 5th at the Seoul Suseo Police Station on charges including murder solicitation.

[Image source=Yonhap News]

According to a comprehensive report by Asia Economy on the 6th, the Gyeonggi Ilsan Eastern Police Station recently began investigating a coin fraud case involving the Yoo couple after receiving a request for supplementary investigation from the prosecution. The suspects, including Mr. Yoo and Mrs. Hwang, are accused of defrauding victims by promising to provide Purever Coin in exchange for several hundred million won worth of Bitcoin.

An official from the investigative agency stated, "To uncover the full picture, including the masterminds behind the Gangnam kidnapping and murder case and the exact motive, the Seoul Central District Prosecutors' Office, along with prosecutors and police nationwide, have started reviewing existing coin fraud cases involving the Yoo couple."

It is reported that numerous complaints and accusations related to the Yoo couple have been filed with investigative agencies in Seoul and the metropolitan area.

This 'Bitcoin embezzlement' case was initially reported to the Seoul Gangnam Police Station, but considering the main suspect's residence and other factors, the Seoul Central District Prosecutors' Office transferred it to the Uijeongbu District Prosecutors' Office Goyang Branch, which then requested supplementary investigation from the Ilsan Eastern Police Station.

According to a police official, this case is also connected to the 'hotel intrusion coin extortion' incident in February 2021, which involved Lee Kyung-woo (35), the main perpetrator of the Gangnam kidnapping and murder case, victim A, and the Yoo couple.

At that time, Lee Kyung-woo, A, and 18 other Purever Coin investors were investigated on charges of forcibly taking coins worth approximately 190 million won from a hotel in Gangnam where Mrs. Hwang was staying, claiming that the price of Purever Coin had plummeted due to Mrs. Hwang's market manipulation. The police sent Lee to the prosecution on charges of joint extortion, while A was not prosecuted. The Yoo couple were victims in that case.

Additionally, there was a case where the Yoo couple sued A, claiming they were defrauded after investing in cryptocurrency on A's recommendation.

Mr. Yoo, Mrs. Hwang, and A had been business partners since around November 13, 2020, before and after Purever Coin was listed on the domestic cryptocurrency exchange Coinone.

The Gangnam kidnapping and murder case occurred amid this complex web of relationships involving perpetrators, victims, and business partners who had long been entangled over coin investments. It is expected that the prosecution and police must thoroughly reinvestigate the existing coin cases related to the Yoo couple to uncover the full truth.

The Seoul Central District Prosecutors' Office decided to form a dedicated investigation team in advance before the case was transferred from the police on the same day. Prosecutor General Lee Won-seok received a report on the investigation progress from Song Kyung-ho, head of the Seoul Central District Prosecutors' Office, and instructed, "Form a dedicated investigation team in advance and work closely with the police to clearly identify the full details, including the background and motive of the crime."

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