South Korean Man Indicted for Attempted Murder After Bitcoin Bet Goes Bad
A cryptocurrency investment dispute in Seoul has escalated into a criminal case after prosecutors say a 39-year-old man tried to poison his business partner following heavy losses on a Bitcoin investment.
What happened
- The Seoul Eastern District Prosecutors’ Office has indicted the man, identified in reports as “Mr. A,” on charges of attempted murder and violating the Pesticide Control Act. Prosecutors allege he handed his partner, “Mr. B,” a cup of coffee laced with methomyl—a banned, highly toxic insecticide—on Nov. 23 at a café near Seokchon Lake in Songpa-gu, Seoul.
- Mr. B collapsed after drinking the coffee and was rushed to hospital, treated in intensive care, and regained consciousness three days later. He told Asia Business Daily the attack nearly destroyed his family: “I was about to get married at the time, and my wife was in the early stages of pregnancy… The family was almost completely destroyed.” He has recovered but still requires medical care.
- Prosecutors say the two men had run Bitcoin investment programs together since 2022. The relationship soured after Mr. A personally lost about 1.17 billion won (roughly $811,000). It is not clear from the indictment whether the loss was due to mismanagement, theft, or a wider scam.
- Investigators say tensions rose as Bitcoin fell—about 35% from a reported October peak of $126,080— and that Mr. B took over management of the company’s funds in September. Prosecutors allege Mr. A purchased the poison before the investment loss and began plotting the attack afterward.
- The first hearing is scheduled for March 10 at the Seoul Eastern District Court.
Wider context: a rise in violent crypto-linked crime
- Prosecutors’ allegations in Seoul come amid an uptick in violent, crypto-related attacks globally. A CertiK report in February documented a 75% year-over-year increase in “wrench attacks”—physical coercion of crypto holders to force access to wallets—resulting in more than $40.9 million in confirmed losses in 2025.
- Recent high-profile examples cited by CertiK and media include a home invasion targeting a crypto executive’s family in France, UK teenagers jailed for stealing $4.3 million in cryptocurrency at knifepoint, and a kidnapping and murder in Spain where attackers allegedly tried to compel victims to unlock digital wallets.
Why it matters
- The Seoul case highlights how financial disputes in the crypto space can turn violently personal, and it underscores growing concerns about the physical security risks tied to digital-asset holdings and custody. The March hearing will test the prosecution’s timeline and the alleged connection between the investment loss and the poisoning.
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