South Korean woman jailed for two years for $500,000 crypto theft

A South Korean woman has been sentenced to two years in prison for stealing about $500,000 worth of digital assets from her boyfriend. According to reports, the woman, in her 40s, carried out the theft while her boyfriend was sleeping. Prosecutors did not reveal the name of the perpetrator during the trial.

According to reports, the accused woman stole around 683 million won, worth approximately $488,000. She carried out the theft in January, with the sentencing being carried out this week. During her trial, the woman was also convicted on charges of embezzlement after it was discovered she also stole 2 million won in cash, worth about $1,430.

The news was reported by local media in South Korea.

South Korean woman sent to jail for crypto theft

According to the authorities, the crime occurred at 11:50 PM at her boyfriend’s house in Jeju City, South Korea, on January 5. They said that the woman had carefully memorized her boyfriend’s login details in the hopes that she would access his account when he went to bed. While he was sleeping, the woman took his phone and used his bank apps and exchanges to transfer funds to her personal accounts.

Authorities mentioned that after stealing the money, the South Korean woman fled the location, boarding a plane to another part of the country. She had the intention of staying there and enjoying the stolen funds. However, things did not go the way she had thought as the police nabbed her at a hotel near Gumi, North Gyeongsang Province. She was subsequently arrested and moved back to Jeju City to answer for her crimes.

According to the details of the case, the woman admitted to the charges, noting that she carried out the criminal act on January 5 while her boyfriend was sleeping. She also mentioned that she had returned most of the funds, noting that she only owes around 21.9 million won, worth about $15,000. The woman also asked the court for leniency because she had returned part of the funds and is remorseful about her actions.

Uptick in crypto-related crimes causes concerns

The media in South Korea mentioned that the court refused her plea of leniency because she is a repeat offender, given her history of fraud, and the amount of money owed was still substantial. The case was handled by the court in Jeju province, South Korea.

The woman’s legal representatives also urged the courts for mercy, citing their client’s remorse and her actions towards refunding the stolen funds. They argued that the woman owes a smaller amount of money compared to what she originally stole on January 5.

The court, during the announcement of the verdict, mentioned that the woman was a repeat offender. The court said she had two previous convictions for fraud, with one of them heading to trial before she stole her boyfriend’s digital assets.

The judge refused to consider her plea or give her a second chance because she had repeatedly been given second chances, which she has continually wasted. The judge handed her a two-year jail term.

The conviction adds to an increasing number of crypto-related crimes in Jeju and globally, as peer-to-peer trades are now leading to theft, assault, and even murder.

In January, a man in his 30s was found stabbed to death in a hotel in Jeju after travelling there to attend a private crypto meeting. In another case, four Chinese nationals were apprehended for stealing $63,000 in digital assets. The same month, 22-year-old Maissa Jebali was arrested for stealing TRUMP meme coins from her ex-boyfriend.

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