Trial of Father and Daughter over 400 Billion Won Bitcoin Gambling... The Missing Coins

Over 1,000 Bitcoins Disappeared During Seizure Process
Seven Defendants Face First Trial for False Accusation and Concealment

A father and daughter, along with their accomplices, who operated an illegal gambling site by accepting billions of won worth of Bitcoin as payment, have stood trial. The 'Bitcoin illegal gambling' case that shook Gwangju has drawn renewed attention due to additional indictments.

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On the 19th, Chief Judge Cho Yonghee of the Gwangju District Court Criminal Division 10 held the first trial for seven defendants, including A (61) and his daughter B (36), who were indicted on charges including concealment of criminal proceeds and false accusation.

B is accused of taking over the operation of the illegal gambling site after her father, A, was caught and imprisoned for running the site by accepting 24,613 Bitcoins (worth approximately 393.2 billion won) as payment since 2018. She had already been separately indicted for this case and was sentenced to five years in prison and forfeiture of 60.8 billion won in the first trial, but the appellate court reduced the sentence to two years and six months in prison and forfeiture of 1.52 billion won. The case is currently pending before the Supreme Court.

Police seized 1,798 Bitcoins when arresting B, but 1,476 Bitcoins (worth about 60.8 billion won at market prices) disappeared during the delay in the seizure process due to transaction volume limits. B falsely accused a police officer of siphoning off the Bitcoins, but prosecutors believe B herself embezzled the Bitcoins and have indicted her for false accusation.

Along with this, six accomplices including A, who were involved in concealing the criminal proceeds, have also been brought to trial and will be tried together with B. Considering the case's complexity, with records amounting to 10,000 pages, the court has given defense attorneys additional time for review and plans to continue the trial next month.

Meanwhile, this case caused a major stir in the local community about two years ago when it was revealed that a broker involved in the case had ties to the Gwangju and Jeonnam regions.

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