A Russian citizen was arrested in South Korea on charges of assault and attempted robbery during a fake cryptocurrency transaction, resulting in an attempted theft of approximately $728,000 (1 billion won). The incident involved three Russian citizens who were involved in a scam that turned violent and included an attempted robbery at a hotel in Seoul.
Trading fake cryptocurrencies led to violence
The incident occurred on May 21, 2025, at a hotel in the Gangseo area 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 asked to wait in the hotel lobby while two men were brought to a room where they were ambushed.
The attackers, equipped with bulletproof vests and hiding in the bathroom, set an ambush for the unsuspecting victims. They threatened the men with a replica of a firearm and beat them with a baton and telescopic fists. The victims were bound with zip ties, and one was injured before he could escape.
The thieves escaped, but the robbery attempt failed
The escaped victim returned to the hotel lobby and alerted others waiting downstairs. The attackers attempted to steal a bag containing a billion won set up for the transaction, but after the rest of the group intervened, 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 bulletproof vests, a replica firearm, and a baton used in the attack in the suspects' hotel room.
International manhunt for fugitives
After the incident, two suspects, both Russian citizens, fled the country. Just hours after the crime, one boarded a flight from South Korea, while the other escaped shortly after the incident. South Korea requested Interpol's assistance in tracking them down. A spokesperson for the police from Gangseo stated: "We are currently interrogating the detained suspect about the motive and details of the crime and are considering applying for an arrest warrant."
The investigation continues, as police examine hotel security footage, digital communication records, and immigration data to determine whether the crime was premeditated by an organized group or if it was a one-time robbery 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 market itself.
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