Warrant sought for 1 more in crypto kidnap-killing case

Police on Sunday sought an arrest warrant for the wife of the suspected mastermind behind the Gangnam kidnap-murder case. The wife and the suspected mastermind are accused of paying about 70 million won ($53,000) to the suspects.

Three suspects in the Gangnam kidnap-murder case appear before the press for the first time while being referred to the prosecution on Sunday after their identities were disclosed by police on Wednesday. From left, Lee Kyeong-woo, Hwang Dae-han and Yeon Ji-ho [NEWS1]

Police on Sunday sought an arrest warrant for the wife of the suspected mastermind behind the Gangnam kidnap-murder case.

The wife and the suspected mastermind are accused of paying about 70 million won ($53,000) to the suspects, who allegedly kidnapped and murdered a 48-year-old woman in Gangnam District in southern Seoul on March 29. The suspected mastermind was arrested on Saturday.

According to Suseo Police Precinct on Sunday, Lee Kyeong-woo, one of the three suspects arrested and identified, proposed the murder and kidnapping of the victim and her husband to the suspected mastermind and his wife.

Part of the 70 million won was given to Lee as early as September last year.

Police suspect that Lee and the couple planned to obtain the victim’s cryptocurrency and convert it to cash.

Of the 70 million won, Lee reportedly gave about 13 million won to college classmate Hwang Dae-han, asking him to help with the murder. With the money, Hwang recruited 29-year-old Yeon Ji-ho and another arrested suspect, unnamed, who aided the others in carrying out the plan but not actually participating.

The motive behind the alleged crime heavily involves cryptocurrencies.

The suspected mastermind and his wife invested about 100 million won in Puriever coins in November 2020 through the victim. Police suspect that the couple had a strong grudge against the victim as the value of the coin plunged.

According to the JoongAng Ilbo, the victim allegedly told the other investors that the couple had manipulated the price of the coin as the value dropped. The investors, including Lee Kyeong-woo who lost some 80 million won from the investment, went to threaten the couple in 2021, asking them to make up for the loss. They consequently obtained approximately 40 million won of cryptocurrencies from the couple.

The pair then filed a lawsuit against the investors following the threat, to which the investors responded by filing a lawsuit against them for fraud.

Lee has reportedly formed a closer relationship with the pair after he reconciled with them and began helping them to win the lawsuit.

The Puriever coin was listed in Coinone on Nov. 13, 2020. The price soared to as high as 10,354 won in a month, and sharply dipped to 1,800 won a month later. In May 2021, the price plunged to about 100 won. On Sunday, its value fell below 3 won.

Police on Sunday referred the identified three suspects to the prosecution. This marks their first appearance before the press after their identities were disclosed by the police.

“I deeply apologize to the victim who died from the incident and send my deepest condolences,” said 35-year-old Lee Kyeong-woo as he came out of the Suseo Police Precinct to be sent to the Seoul Central District Prosecutors’ Office.

“I want to say sorry to my family.”

Lee Kyeong-woo, Hwang Dae-han and Yeon Ji-ho’s identities were disclosed last week after they were arrested for allegedly kidnapping and murdering a 48-year-old woman in front of an apartment complex in Yeoksam-dong, Gangnam District, southern Seoul.

Lee is accused of planning the crime while Hwang and Yeon are believed to have kidnapped the victim, killed her and thrown her body near the Daecheong Dam in Daejeon, 140 kilometers (87 miles) south of Seoul.

BY CHO JUNG-WOO [cho.jungwoo1@joongang.co.kr]