In a significant crackdown, the Gangbuk Police in Seoul apprehended seven members of a criminal organization that hacked into virtual asset wallets to steal approximately 800 million won. This operation was conducted following the theft that occurred in April of the previous year, targeting unsuspecting individuals through random phone calls that lured them to a fraudulent website. The criminals promised high-interest returns on deposits in exchange for connecting their virtual asset wallets to the site, which was deceptively designed to seize the withdrawal permissions of the wallets without the victims' knowledge.

In an effort to deceive their victims further, the organization transferred the promised interest payments daily for a month, thus encouraging at least one victim to deposit a substantial amount of assets. Once the victim deposited the 800 million won, the criminals executed their plan and stole the entire sum. Post-theft, they undertook extensive efforts to launder the stolen virtual assets through various exchanges, attempting to elude law enforcement agencies. The investigation has been ongoing since May last year, with the six arrested individuals already facing prosecution, while the ringleader has received a five-year prison sentence in the first trial, and is currently undergoing an appeal process.

Authorities have issued a warning highlighting the rising trend of virtual asset-related crimes, urging caution among potential investors. They emphasized the need for vigilance when approached with investment opportunities that promise unrealistic returns or involve unverified online platforms, which are often red flags for scams. The police's proactive stance aims to educate the public on identifying possible fraudulent schemes in the rapidly evolving digital asset landscape.