The head of the Healthcare Security Division of South Korea's National Health Insurance Service, responsible for national health insurance, embezzled 4.6 billion South Korean won of public funds and nearly depleted it through involvement in cryptocurrency
BlockBeats News, July 16th, according to SBS, on July 16th, the chief of the finance department of the National Health Insurance Service, responsible for South Korea's universal health insurance, embezzled 4.6 billion Korean won in public funds but almost lost it all due to participating in a crypto contract transaction.
The South Korean prosecution stated that the supervisor with the last name Choi, in his capacity as the head of the financial management team from April to September 2022, embezzled up to 4.6 billion Korean won through 18 system operations and then fled overseas. The supervisor with the last name Choi was once found splurging at a luxurious resort in the Philippines and was eventually caught in Manila in January 2024.
Through civil litigation, the National Health Insurance Service managed to recover 720 million Korean won, but the remaining over 39 billion Korean won was almost entirely lost in the cryptocurrency contract market by Supervisor Choi, rendering traditional recovery mechanisms ineffective. Supervisor Choi was convicted in the first and second trials by judges who stated, "Public servants are required to be honest, but the method of embezzling a large amount of funds systematically is extremely malicious," and was sentenced to 15 years in prison. The verdict on the 15th upheld the original sentence. (BlockTempo)
You may also like

Particle Founder: The entrepreneurial insights I have gained the most from in the past year

Huang Renxun's latest podcast transcript: The future of Nvidia, the development of embodied intelligence and agents, the explosion of inference demand, and the public relations crisis of artificial intelligence

OKX Ventures Research Report: AI Agent Economic Infrastructure Research Report (Part 1)

The migration of settlement rights: B18 and the institutional starting point of on-chain banks

From Tencent and Circle: Looking at the Simple and Difficult Questions of Investment

The second half of stablecoins no longer belongs to the crypto circle

Cursor "Shell" Kimi Controversy Reversed: From Copyright Infringement Allegations to Authorized Collaboration, China's Open Source Model Once Again Becomes a Global AI Foundation

The Real Reason Tokens Don't Sell: 90% of Crypto Projects Overlook Investor Relations

Is the income of pump.fun real, earning a million dollars a day despite the market downturn?

The real reason why tokens are not selling: 90% of crypto projects neglect investor relations

Who is the true winner of the "Tokenization" narrative?

Moss: The Era of AI-Traded by Anyone | Project Introduction

Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update

How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.

Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K

Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?

Huang Renxun's Latest Podcast Transcript: NVIDIA's Future, Embodied Intelligence and Agent Development, Soaring Demand for Inferencing, and AI's PR Crisis
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Crypto_Trade shows how structured inputs and controlled adaptability can build a more stable and reliable AI crypto trading bot within the WEEX AI Trading Hackathon, highlighting a practical path toward scalable AI trading systems.