A South Korean woman in her 40s has been sentenced to two years in prison for fraud after stealing nearly $500,000 worth of cryptocurrency from her romantic partner.
The Jeju District Court handed down the sentence to the woman, referred to only as Ms. A, following a trial that revealed she had secretly transferred large amounts of digital assets from her partner’s wallet to her own.
The incident took place on January 5, while the victim, referred to as Mr. B, was asleep.
In addition to the cryptocurrency theft, Ms. A also took personal property, including a smartphone and cash amounting to 4.6 million won (approximately $3,400).
Court Details Reveal Premeditated Act and Prior Criminal Record
According to court documents and statements from the prosecution, Ms. A transferred a total of 686 million won (roughly $500,000 USD) in cryptocurrency, split into 170 million won and 513 million won in two separate transactions.
The theft occurred at the victim’s residence, underscoring the personal and premeditated nature of the crime.
Beyond the digital theft, she also stole a cell phone and 2 million won in physical cash, all while the victim was unaware and asleep.
Judge Lim Jae-nam of the Jeju District Court stated that the decision to impose a prison sentence took into account the substantial monetary damage and the defendant’s repeat history of fraud.
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Defense Argues for Leniency, Citing Partial Restitution
During the trial, Ms. A admitted to all charges presented in the indictment. Her legal team requested leniency, emphasizing that most of the stolen cryptocurrency had been returned to the victim.
The defense stated that while the total amount taken was substantial, the actual financial damage amounted to around 21.9 million won (approximately $16,000 USD) after restitution.
They also pointed out that Ms. A had been making ongoing efforts to recover and return the remaining losses, framing her actions as driven more by desperation than malice.
Judge Balances Restitution With Prior Offenses in Sentencing Decision
Despite acknowledging the partial restitution, Judge Lim emphasized Ms. A’s criminal history in determining the final sentence.
The court noted that she had been convicted of fraud on two prior occasions and was already on trial for another fraud-related offense at the time this latest crime occurred.
While the fact that most of the funds had been returned did weigh in her favor, it was ultimately outweighed by her pattern of fraudulent behavior and the significant initial damage caused.
The case highlights the growing prevalence of cryptocurrency-related fraud and the South Korean judiciary’s increasing willingness to impose firm penalties in such cases.
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