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South Korean police arrested individuals paid in cryptocurrency for "private revenge" attacks
Payments ranged from $337-$675 or 500,000-1,000,000 KRW worth of crypto
Tactics included vandalism, threats, and spreading human waste
Authorities are investigating potential links to a larger Telegram-based organization.
Deep Dive
Police in South Korea are investigating a series of alleged "private revenge" attacks that involve property vandalism and intimidation tactics, with perpetrators reportedly paid in cryptocurrency. These incidents, which include defacing property and spreading waste, are believed to be orchestrated through the social messaging app Telegram.
The reported payments to individuals involved in these acts range from approximately $337 to $675 (500,000 to 1,000,000 South Korean won) in cryptocurrency. In recent incidents, two individuals, identified as "Mr. Lim" and "Mr. K," were arrested and charged. Their alleged crimes included vandalizing front doors, leaving threatening messages such as "I will not leave you alone," and, in Mr. Lim's case, scattering food and human waste in the Suwon District, outside Seoul.
Authorities suspect these individuals acted under the direction of a larger "private revenge organization" operating on Telegram and are actively working to identify and apprehend their superiors. Investigations are also underway to determine if these recent events are connected to a December 7th vandalism incident that also involved cryptocurrency payments to perpetrators.
These "private revenge" attacks occur against a backdrop of other notable cryptocurrency-related incidents in South Korea. Previously, a Bitcoin dispute led to attempted murder charges when an individual allegedly poisoned his business partner over mismanagement of Bitcoin investments. Additionally, South Korean regulators faced criticism after an internal system flaw at the crypto exchange Bithumb led to the erroneous distribution of approximately 2,000 BTC, valued at $137 million, instead of the intended 2,000 won. While most funds were recovered, the exchange initially credited users with $43 billion in Bitcoin.
Further complicating the landscape, police officers reportedly lost access to $1.4 million worth of Bitcoin over four years ago. In a separate incident, the nation's tax service inadvertently disclosed the seed phrase for three crypto wallets containing $4.8 million worth of tokens in a public press release.
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