Incheon police lieutenant indicted over alleged 5.19 million-won Bitcoin diversion

  • Incheon prosecutors indicted a police lieutenant without detention over alleged Bitcoin diversion.
  • 0.033 BTC worth 5.19 million won was seized from a drug offender in 2024.
  • Prosecutors found the Bitcoin missing after the related drug case received its final ruling.

A South Korean police lieutenant in his 40s has been indicted without detention over allegations that he diverted and concealed 0.033 Bitcoin seized from a drug offender in 2024. The cryptocurrency was valued at about 5.19 million won at the time. The officer, affiliated with the Incheon Metropolitan Police Agency, allegedly converted the Bitcoin and cashed it out for personal use. Earlier investigative details said the asset had been stored in a mobile-phone wallet and moved across blockchain networks before conversion. Prosecutors discovered it was missing while handling seized items after the related drug case received its final ruling and said they would continue tracking virtual-asset concealment and money-laundering offenses.

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Incheon police lieutenant indicted over alleged 5.19 million-won Bitcoin diversion - CoinPost Terminal