S Korean Gov’t Worker ‘Embezzled Public Funds and Escaped with $2.8m in Crypto’
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...