South Korean Man Accused of Poisoning Linked to Crypto Losses

A man in South Korea is reportedly facing jail time for allegedly poisoning his business partner with pesticide-laced coffee over a dispute related to more than $816,000 in crypto investment losses.

The Seoul Eastern District Prosecutors’ Office has accused a man in his 30s of adding the pesticide methomyl to his business partner’s drink during a meeting at a café in November, local news outlets Chosun and Asia Business Daily reported on Monday.

After drinking the coffee, the victim lost consciousness and collapsed. He was rushed to the hospital and regained consciousness three days later, according to reports.

Dispute over $800,000 in crypto losses

Starting in 2022, the two men reportedly operated an investment business managing Bitcoin (BTC) investment programs.

However, a dispute arose when the accused man allegedly lost over 1.17 billion Korean won ($816,000), including company funds he had invested personally, which led the alleged victim to assume control of the company’s finances.

The alleged victim, who was not named, told Asia Business Daily that at the time he claims he was poisoned, “I was about to get married, and my wife was in the early stages of pregnancy. My family was almost completely destroyed. I’ve recovered a lot now, but I still go to the hospital.”

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A trial date is scheduled for March 10 at the Seoul Eastern District Court, where the accused is facing charges of attempted murder and violation of the Pesticide Control Act.

The case comes amid a backdrop of a friendlier environment for crypto in South Korea since the election of President Lee Jae-myung in June, who has pushed forward with various crypto-related laws, including a bill to legalize stablecoins.