South Korean police are investigating the suspected crypto-related murder of a Chinese man at a luxury hotel in Jeju Province.
According to Yonhap News Agency, officers believe the crime may have taken place during a cryptocurrency exchange transaction.
On February 25, Jeju West Police Station confirmed they were questioning four Chinese nationals in connection with the case, including two women in their 30s, a man in his 30s, and another man in his 60s.
Authorities suspect that the group may have fatally stabbed the victim, a Chinese man in his 30s, inside a hotel room in Jeju City.
Police say the crime likely occurred on the afternoon of February 24, after receiving a call from an acquaintance of the victim at around 5:10 PM. The caller reported that the victim had gone to buy cryptocurrency but was now missing and unresponsive to phone calls.
When officers arrived at the scene, they found the man dead, bleeding from multiple stab wounds. Shortly after the discovery, one of the suspects, a woman in her 30s, turned herself in at Seongsan Police Station in Seogwipo, Jeju.
Police then apprehended the three remaining suspects at Jeju International Airport as they were allegedly attempting to flee the country.
Investigators believe the suspects stole approximately 85 million won ($59,318) in cash but are still working to determine the exact motive and circumstances surrounding the crime. All four suspects were in Jeju on tourist visas.
Police believe that the Chinese woman who turned herself in may be the main culprit of this crime. Based on the suspect's statement, the investigation is currently underway with all possibilities open, including whether he committed the crime during the cryptocurrency exchange transaction process.
This marks the second major crypto-related crime in Jeju this year. In January, police arrested a gang of six suspected Chinese crypto thieves involved in another incident at a Jeju hotel.
Officers accused the group of stealing around $580,000 worth of cryptocurrency from a hotel guest before attempting to flee the country. The crime reportedly involved an over-the-counter (OTC) crypto dealer who had previously conducted multiple transactions with the group.
On January 16, however, the group allegedly decided to take the money without completing the transaction and attempted to escape Jeju.
Although cryptocurrency trading is effectively illegal in Mainland China, digital assets like USDT and Bitcoin (BTC) remain highly popular. The latest case highlights growing concerns over crypto-related crimes involving foreign nationals in South Korea, particularly in Jeju, a popular destination for both tourists and illicit financial activities.
Police continue to investigate the murder and are working to strengthen security measures around cryptocurrency transactions in the region.
Weiliang
Miyuki
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