South Korea's Seoul Prosecutors' Office recovers and seizes 7.6 billion won worth of Ethereum

The cybercrime investigation team of the Seoul Eastern District Prosecutor's Office in South Korea announced that they have recovered a deleted electronic wallet from a fraud suspect and seized 760 million Korean won (approximately $5.6 million) worth of Ethereum.

The prosecutor's office claimed that a programmer named An was accused of defrauding 156 victims between January and February 2019, stealing 14.6 billion Korean won (approximately $14.6 million) of investment funds by claiming that the tokens he developed would soon be listed on an exchange.

In June of the same year, An was also accused of transferring 1,796 Ethereum to his personal encrypted wallet, which was purchased by the gaming platform company he worked for and used to operate a cryptocurrency exchange.