Chain News by Thebittimes.Com

Source: Atstock Productions/Adobe A missing South Korean government worker is thought to be on the run with $2.8 million worth of public funds stolen from the country’s National Health Insurance Service (NHIS) – and the suspect appears to have converted most or all of the money to crypto. KBS reported that prosecutors and police officers are on the hunt for a 44-year-old NHIS employee identified only by their surname &ndash ; Choi. Investigators think Choi embezzled a total of $3.24 million from NHIS accounts, diverting public money into his own private bank accounts. They say they have recovered some $423,000 of this. But Choi, the authorities stated, appears to have used the remainder of the money to buy crypto , which they think may be held on an overseas crypto exchange. While the South Korean courts have the power to force domestic crypto exchanges to freeze funds and close wallets held on their own platforms, they have no jurisdiction over exchange...

Source: Artem/Adobe Do Kwon, the Co-founder and CEO of Terraform Labs, left Singapore last month for Dubai, South Korean prosecutors and police have claimed. But Kwon they say he has since left the United Arab Emirates – and is now in a “third” country. Per Maeil Kyungjae, the Seoul Southern District Prosecutors’ Office and the police force are now working together to determine Kwon’s whereabouts. They believe that Kwon moved to a “third country&rdquo ; via Dubai – but may have sought to obfuscate or conceal his “record of entry” into his current location . Interpol has issued a Red Notice for Kwon, while South Korean prosecutors have issued an arrest warrant. The foreign ministry is currently in the process of voiding his passport. The media outlet quoted officers as stating that they were working with law enforcers in “neighboring countries” to the UAE to determine the Terraform boss’ location...