Russian national arrested in South Korea for attempted crypto robbery

A Russian national in his 20s was arrested in Busan, South Korea, for an attempted cryptocurrency robbery that took place in Seoul on May 21, 2025.

The suspect, along with two accomplices who have fled the country, allegedly lured 10 Korean men to a hotel under the pretense of a peer-to-peer crypto transaction. Two of the men were ambushed inside a hotel room by the suspects, who wore protective vests and used a replica handgun and telescopic baton to threaten and tie the victims with cable ties.

The suspects attempted to steal about 1 billion won (approximately $730,000) in cash prepared for the transaction but fled after one victim escaped and raised the alarm.

Police found equipment in the suspects’ hotel room including a replica firearm, batons, protective vests, and a money counter. Authorities have requested Interpol's assistance to track down the two suspects who fled overseas.

The arrested individual faces charges of assault and attempted robbery, and police are preparing to seek a pretrial detention warrant.

This incident highlights a rise in violent crimes related to cryptocurrency transactions in South Korea, including kidnapping and ransom cases, prompting increased demand for personal security among crypto investors and executives.

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