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A police officer who allegedly cashed out and embezzled Bitcoin seized during a drug case investigation has been brought to trial.
According to legal circles on the 28th, the Incheon District Prosecutors' Office's Criminal Proceeds Recovery Team has indicted, without detention, Lieutenant A, a police officer in his 40s belonging to the Incheon Police Agency, on charges of violating the Special Act on the Prevention of Illegal Drug Trafficking and the Act on the Regulation and Punishment of Concealment of Criminal Proceeds.
Lieutenant A is suspected of transferring approximately 0.033 BTC (worth 5.19 million won at the time) seized in a drug case last August to another electronic wallet and using it.
It was investigated that he converted the seized and stored Bitcoin into various types of virtual assets using a 'chain hopping' method (moving virtual assets to a blockchain network of a different base) through an electronic wallet created on his mobile phone for investigative convenience, and then cashed them out.
Lieutenant A's crime was revealed when it was confirmed that the Bitcoin had disappeared during the process of confiscating seized items after the previous drug case's trial was finalized.
A prosecutor stated, "We will continue to pursue increasingly sophisticated virtual asset concealment and money laundering crimes to the end, deprive them of illegal profits, and do our best to recover criminal proceeds."
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