In a shocking turn of events, a former spy turned hitman, Lee Kyung-woo, was sentenced to life in prison for a heinous crime that unfolded like a K-drama plot in an upscale district of Seoul. The victim, a woman involved in a collapsed cryptocurrency called PURE, was kidnapped, drugged, and murdered over a crypto dispute.
PURE, based in the Seychelles but operated by a Korean, faced fraud and market manipulation charges leading to the arrest of its mastermind. A couple, having lost significant funds in PURE, hired Lee to eliminate the woman who had urged their investment, aiming to steal her digital assets.
For a fee of 70 million won, Lee orchestrated the victim's abduction, drugging, and coercion to reveal her crypto passwords. The ketamine used in the crime, sourced from Lee's wife, a nurse at a plastic surgery clinic, highlighted the sinister nature of the plot. The victim's body was later found buried in the countryside, 140 kilometers from Seoul.
While South Korea has been a crypto hotspot, recent criminal incidents, including the collapse of Do Kwon's tokens, have rattled investor confidence. Rising criminality prompted the establishment of a dedicated inter-agency unit to combat crypto-related crimes, reflecting the need for regulatory scrutiny.
Lee, who lost his business during the pandemic, invested his savings in PURE, witnessing a drastic loss. PURE's value plummeted by 95% in the beginning of 2021. Desperation led him to extreme measures, claiming to be a former military agent and proposing illegal methods to resolve matters for his clients, including discussing plans for murder.
The victim's elementary school-aged son now faces a lifetime of loneliness and loss, unaware that his mother was murdered. Lee, the mastermind, received a life sentence, as did his accomplices, while the couple – identified as Yoo Sang-won and Hwang Eun-hee – who hired him were also sentenced to eight and six years in prison, respectively.
Hwang Dae-han and Yeon Ji-ho, Lee's two accomplices who carried out the abduction and murder under Lee's guidance, received a life sentence and a 25-year prison term, respectively.
The official cause of death was deemed "ketamine poisoning," marking a tragic end to a crypto-fueled crime.
(Left to right) Lee Kyeong-woo and his accomplices, Hwang Dae-han and Yeon Ji-ho
In the wake of this chilling incident, the profound sense of loss experienced by the victim's son remains unimaginable. The ramifications of this tragedy extend far beyond the courtroom, leaving a scar on the life of an innocent child who believed his mother's demise was due to Covid-19.
The case exemplifies the dark ramifications of crypto-related criminality, exposing the vulnerability of investors and the devastating consequences it inflicts on innocent lives. It calls for stringent measures to safeguard against such heinous acts in the evolving landscape of digital assets.
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