The Late Nexon Founder’s Account Was Stolen About $6.7 Million In Crypto

Key Points:

• The late Nexon founder’s account was stolen 8.5 billion won (approximately over $6.7 million).
• Hacker stole this amount in 10 days with 27 transactions.
• Several accomplices were arrested. However, the mastermind has not been caught yet. The amount has not been recovered yet.

The Nexon founder’s account was stolen 8.5 billion won (approximately over $6.7 million). Kim Jung-ju, who died in the United States in February, was attacked after his death. The hacking group stole virtual currency using the personal information of former Chairman Kim.

On May 28, Mr. Jang (39 years old), a member of a hacking criminal organization and others illegally copied the USIM (subscriber identification device) to the virtual currency exchange Korbit.

For 10 consecutive days, they transferred a total of 8.5 billion won in virtual currencies, such as bitcoin and ethereum, to other accounts for a total of 27 times. Korbit’s side suspected that the transaction occurred in the account of the deceased former chairman Kim and informed the investigating agency about this fact.

Jang was later arrested and charged with fraud under the Serious Punishment for Specific Economic Crimes Act in September. Last month, the Seoul Eastern District Court sentenced Jang to six years in prison with the statement: “The crime is very poor” in the first trial.

According to the ruling, Mr. Jang and his accomplices illegally copied USIM using the personal information of former chairman Kim received from the head of the hacking organization. Then, as if it were former Chairman Kim himself, he accessed the Korbit account and withdrew the stored virtual currency.

In addition to former chairman Kim, Mr. Jang copied about 10 USIMs, but whether he hacked into their accounts or not has not been confirmed.

An official from the investigative agency said, “The head has not been arrested yet.”

“I found out that it was Nexon Chairman Kim Jeong-ju’s information during the USIM copying process after receiving personal information from the general manager.”

Mr. Jang himself did not know at first that the information belonged to Chairman Kim, but only discovered in the process of committing the crime.

It is known that the amount of money that former Chairman Kim suffered has not yet been recovered.

“Bitcoins were transferred to an account in the name of another person and in order to confiscate them, further proof is needed that the other person received them upon learning of this crime.”

An official in the investigation said

Due to this incident, there are voices in the industry that the asset protection system left behind when a virtual currency account holder dies should be overhauled. Currently, in the case of accounts with financial institutions such as banks, when bereaved families apply for a “check of heirs’ financial transactions” after the owner’s death, the assets of the bereaved Deceased people at banks, insurance companies and various pension institutions were asked collectively. In addition, when financial companies are notified of death, they freeze accounts to protect inherited assets, so funds cannot be withdrawn through hacking.

In order to prevent similar incidents from happening again (as was the case with former Chairman Kim), we have increased various screening measures, such as checking the identity of visitors. when an anomaly such as a transaction pattern different from the one is detected.”

Korbit said

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News