Crypto Dispute Leads to Attempted Poisoning in Seoul

• Seoul man indicted for attempted murder after allegedly poisoning partner in crypto dispute.
• Financial fallout from 1.17B won Bitcoin loss reportedly triggered the attack.
• Prosecutors tighten virtual asset custody rules after 320 BTC phishing breach.

A Seoul man has been sent to trial after prosecutors accused him of attempting to kill his business partner by serving coffee laced with pesticide during a dispute over crypto investment losses. Authorities allege the attack followed mounting financial tensions tied to a failed Bitcoin-related investment venture the two had operated together since 2022.

The Seoul Eastern District Prosecutors’ Office announced on Feb. 23 that it arrested a 39-year-old man, identified only as A, on charges of attempted murder and violating the Pesticide Control Act. The indictment was filed on Jan. 9.

According to prosecutors, A met his business partner, identified as B, at a café near Seokchon Lake in Songpa-gu, Seoul, at approximately 9 p.m. on Nov. 23 last year. During the meeting, A allegedly mixed methomyl, a colorless and odorless toxic insecticide, into the coffee B had ordered.

After consuming the beverage, B reportedly lost consciousness and collapsed. He was rushed to a hospital, where he regained consciousness three days later following medical treatment.

Investigators found that A had purchased methomyl online from China in October last year for 290,000 Korean won, about one month before the alleged attack.

Investment Losses at Center of Dispute

The two men had jointly operated an investment business that pooled funds through Bitcoin investment programs. Their partnership began in 2022 and aimed to generate returns through cryptocurrency-related strategies.

Prosecutors said the relationship deteriorated after A failed to recover 1.17 billion Korean won, including funds he had invested separately in the company. Authorities allege that the financial loss contributed to the attempted poisoning.

Virtual Asset Management Guidelines Issued

The case comes as South Korea’s Supreme Prosecutors’ Office recently implemented new management guidelines for seized virtual assets. The updated protocols were distributed nationwide after the Gwangju District Prosecutors’ Office lost 320 Bitcoins, valued at approximately 30 billion Korean won, due to a phishing incident. The stolen assets were later fully recovered.

Under the new guidance, prosecutors must verify wallet holdings through official blockchain websites, including blockchain.com for Bitcoin and Etherscan for Ethereum. The directive specifies that only public keys should be used for balance checks and warns against entering security keys that could grant account access.

The guidelines also require separate storage of USB devices containing virtual asset wallets and the passwords needed to access them. Officials said the measure is intended to reduce the risk of insider theft and prevent a recurrence of similar incidents.

Related: Crypto Crackdown: South Korea Announces Market Manipulation Investigation