Chinese National Who Entered Visa-Free and Fled After Stealing Cryptocurrency Worth 800 Million Won

Entered Jeju Using Visa-Free Entry System to Commit the Crime
Victims Are Chinese Nationals Running a Travel Agency

A group of Chinese nationals who stole virtual currency worth 840 million KRW from a hotel in downtown Jeju in broad daylight has been arrested.

On the 20th, Jeju Western Police Station detained six Chinese suspects, including the main suspect, a man in his 40s identified as Mr. A, on charges of special robbery, according to a report by Yonhap News Agency. Mr. A and others are accused of stealing virtual currency worth 840 million KRW from two Chinese men in their 30s, including Mr. B, at a luxury hotel room in Jeju City around 12:20 PM on the 16th.

The police are seizing approximately 160 million won hidden by suspects at an undisclosed location in Jeju City. Provided by Jeju Western Police Station, Yonhap News Agency.

According to the police, the transaction was mediated by a Chinese currency exchanger. Mr. A and his group received the virtual currency from the victims and agreed to pay 1 billion KRW in cash along with a commission. First, Mr. A handed over the promised 1 billion KRW in cash to the victims in the hotel room. The victims then transferred virtual currency worth 840 million KRW to Mr. A’s virtual wallet in seven installments. Suddenly, Mr. A accused the victims of being fraudsters, claiming the virtual currency in the wallet had disappeared. He then took back the 1 billion KRW cash he had given to the victims and fled, assaulting the currency exchanger in the process.

After receiving a report from the victims, the police promptly arrested Mr. A and another suspect at the hotel, and later apprehended the remaining four members of the group at Jeju International Airport and other locations. The police confiscated 369.6 million KRW in cash hidden by the suspects and are continuing to search for the remaining cash.

Police investigations revealed that Mr. A and his group are acquaintances or relatives who entered Jeju on the 13th and 14th using the visa-free entry system. The victims, including Mr. B, are known to operate a travel agency catering to Chinese tourists in Jeju. The virtual currency transferred from Mr. B to Mr. A’s wallet was later moved to another wallet, and the police are currently identifying the owner of that wallet.

During the police investigation, Mr. A and his group claimed they were the victims and have not provided proper statements. The police are focusing on the possibility that Mr. A and his group transferred and embezzled the virtual currency from the victims, based on the fact that knowing the wallet account and password allows access and transactions from other devices. The exact circumstances of the case are under thorough investigation.

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