South Korean authorities have arrested a group suspected of targeting wealthy citizens, including celebrities and business leaders, in a digital theft operation that resulted in losses exceeding $28 million.
According to a report by Korea Joongang Daily on August 28, the Seoul Metropolitan Police confirmed that they had detained 16 individuals linked to the scheme.
Two alleged leaders, both Chinese nationals, were captured in Thailand and accused of coordinating the operation from there and China over a nine-month period between July 2023 and April 2024.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
Is Your Crypto Safe? (5 Best Crypto Security Practices Explained)
Police said the group illegally accessed databases from government and financial services to gather personal records. This information was used to open more than 100 mobile accounts under fake names.
These phones helped them bypass security systems and access various online accounts, including those holding large amounts of money and cryptocurrency.
In total, data was reportedly collected from 258 people. This list included crypto holders, executives, public figures, and professional athletes. Although many were targeted, investigators said the group only attempted to steal funds from 26 individuals. These victims held account balances worth nearly $40 billion combined.
Among the cases was that of BTS member Jungkook. In January, while he was fulfilling military duties, attackers allegedly tried to access and sell $6.1 million worth of HYBE stock tied to him. The transfer was blocked after the banking systems flagged the transaction, and his management intervened.
On August 27, the US government took new action against a group accused of helping North Korea steal cryptocurrency from companies based in the United States. What action did the government take? Read the full story.
