South Korean authorities are examining allegations of bribery against a high-ranking police officer in Seoul involved in a cryptocurrency investigation. The superintendent, whose name has not been disclosed, is stationed in Gangnam District—a key area for many of South Korea’s leading cryptocurrency exchanges.
Reports indicate that the Seoul Southern District Prosecutors’ Office has launched an investigation into the officer, suspected of accepting bribes from an individual connected to a cryptocurrency case. On August 23, investigators conducted a raid at the Gangnam Police Station, where the superintendent worked, and seized evidence pertinent to the case.
Prosecutors are focusing on claims that the superintendent received illicit payments during the course of the cryptocurrency investigation. The police department has since confirmed that the officer has been suspended pending further inquiry.
The allegations have stirred concern among local residents and crypto enthusiasts, such as Kim Min-ah, who remarked, “Such accusations are troubling. If these allegations are accurate, they seriously damage trust in law enforcement. We depend on the police to combat crime and maintain integrity.”
The Virtual Asset Joint Investigation Team, which handles major cryptocurrency cases in South Korea, is already dealing with high-profile investigations, including the case of Do Kwon and the Terra ecosystem collapse. Although the Seoul Gangnam District Prosecutors’ Office is not typically involved in the Southern District’s financial investigations, it has taken on the case due to its expertise in financial and crypto-related crimes.
Earlier this year, several police and prosecution officials faced legal action for allegedly accepting bribes linked to a major altcoin fraud case. The ongoing scrutiny of the superintendent underscores ongoing concerns about corruption within South Korea’s law enforcement, particularly in the rapidly evolving field of cryptocurrency.
