A Russian citizen was arrested in South Korea for assault and attempted robbery during a fake cryptocurrency transaction, which led to an attempted theft of cryptocurrencies worth approximately $728,000 (1 billion won). The incident involved three Russian nationals, who were involved in a scam that turned violent and involved an attempted heist in a hotel in Seoul.
Fake Cryptocurrency Trading Led to Violence
The incident occurred on May 21, 2025, at a hotel in the Gangseo district of western Seoul. Three Russian suspects lured 10 Korean men into a fake P2P cryptocurrency transaction, which was supposed to involve a large sum of money. Eight victims were told to wait in the hotel lobby, while two men were brought into a room where they were ambushed.
The attackers, equipped with bulletproof vests and hiding in the bathroom, ambushed the two unsuspecting victims. They threatened the men with a gun replica and beat them with a telescopic baton and fists. The victims were bound with zip ties, and one of them sustained injuries before managing to escape.
Robbers Fled, but Theft Attempt Failed
The victim who escaped returned to the hotel lobby and alerted the others waiting downstairs. The attackers attempted to steal a bag containing 1 billion won prepared for the transaction, but after interference from the rest of the group, they were forced to flee the scene without the money. Police were called after an emergency report at 8:30 PM, and when they arrived at the scene, they found a safe, bulletproof vests, a gun replica, and a baton used in the attack in the suspects' hotel room.
International Manhunt for Fugitives
After the incident, two of the suspects, who were Russian nationals, fled the country. Just hours after the crime, one of them boarded a flight out of South Korea, while the other fled shortly after the incident. South Korea has requested Interpol's assistance in tracking them down. A police spokesperson from Gangseo stated, "We are currently questioning the detained suspect about the motive and details of the crime and are considering applying for an arrest warrant."
The investigation continues, with police examining hotel security footage, digital communication records, and immigration data to determine whether the crime was pre-planned by an organized group or was a one-off theft attempt.
Risks of P2P Cryptocurrency Transactions
Although P2P cryptocurrency transactions are legal in many jurisdictions, they often lack adequate security, making them an ideal target for criminals. This incident highlights how illegal cryptocurrency transactions can easily escalate into violent crimes, endangering not only the victims but also the cryptocurrency marketplace itself.
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