DeFi Daily News
Sunday, June 22, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi Web 3

rewrite this title South Korean Police Bust Gambling Den Behind Crypto Mining Front – Decrypt

Vismaya V by Vismaya V
April 10, 2025
in Web 3
0 0
0
rewrite this title South Korean Police Bust Gambling Den Behind Crypto Mining Front – Decrypt
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

A crypto “mining farm” in Gwangju turned out to be a front for money-spinning of a different kind: illegal gambling.

On Wednesday, South Korean police busted a makeshift gaming room that funneled over $95,000 (₩140 million) through unlicensed machines under the pretense of mining crypto.

Gwangsan Police Station announced that they are investigating a man identified only as “Mr. A” for violating the Game Industry Promotion Act, per a local media report.

The suspect reportedly installed 50 modified gaming machines and two kiosks in an office in Gwangsan-gu earlier this month, running the site under the guise of a virtual currency exchange and mining operation.

Following the bust, authorities confiscated the gaming equipment and are expanding their investigation to identify possible accomplices.

“Mr. A” allegedly modified a free mobile game, charging players $38 (₩50,000) per hour to play, and rewarded them with cash based on their scores.

“We will actively block illegal gaming centers from reopening or spreading even after being cracked down on,” Chief Jeong Gyeong-ho said after the raid.

Another police official added, “We plan to continuously and strongly crack down on illegal gaming rooms that threaten the people’s economy.”

South Korea’s gambling crackdown

South Korea has seen a rise in gambling operations that use digital fronts, from crypto mining to fake investment platforms, to dodge detection.

These setups often appear legitimate on the surface but exploit the regulatory blind spots between gaming, crypto, and financial services.

In November 2024, South Korean police arrested 12 operators and 191 gamblers connected to an illicit online betting network that handled more than $7.77 million (₩108.4 billion) in wagers.

The group reportedly used encrypted chat apps and exclusive invite-only recruitment to avoid law enforcement scrutiny.

And just last week, authorities in South Gyeongsang arrested 18 individuals for running illegal online casinos from the Philippines, laundering over $169.5 million (₩250 billion).

The operation lured gamblers through mass texts and internet cafés, an example of how global and tactical these shadow networks have become.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: BustCryptoDecryptdenFRONTgamblingKoreanMiningpolicerewriteSouthtitle
ShareTweetShare
Previous Post

rewrite this title Bitcoin Price Lost 25% in Q1 2025 but Crypto Volumes Surged 141% Amid Pro-Crypto Policy Shift

Next Post

The truth is ‘even wilder than you think’: Author exposes new Biden details

Next Post
The truth is ‘even wilder than you think’: Author exposes new Biden details

The truth is 'even wilder than you think': Author exposes new Biden details

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

July 25, 2024
Boeing machinists refuse latest offer, prolonging bruising six-week strike

Boeing machinists refuse latest offer, prolonging bruising six-week strike

October 23, 2024
CRYPTO IS DUMPING DUE TO THIS… What Comes Next?

CRYPTO IS DUMPING DUE TO THIS… What Comes Next?

June 13, 2025
Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

Rough N’ Rowdy 25 FREE PREVIEW | Watch 20 Fights + Ring Girl Contest TONIGHT

August 9, 2024
I Built The DREAM Office Setup!

I Built The DREAM Office Setup!

November 30, 2024
rewrite this title XRP vs SEC: Legal Expert Says Ripple Is Delaying The Lawsuit

rewrite this title XRP vs SEC: Legal Expert Says Ripple Is Delaying The Lawsuit

June 19, 2025
rewrite this title Rodrygo, Sesko or Gyokeres: Who could be the answer to Arsenal’s striking dilemma this summer? – Soccer News

rewrite this title Rodrygo, Sesko or Gyokeres: Who could be the answer to Arsenal’s striking dilemma this summer? – Soccer News

June 22, 2025
rewrite this title Best AI Tools for Generating Realistic Videos: 2025 Review & Rankings

rewrite this title Best AI Tools for Generating Realistic Videos: 2025 Review & Rankings

June 22, 2025
rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 23 #273

rewrite this title Today's NYT Connections: Sports Edition Hints, Answers for June 23 #273

June 22, 2025
rewrite this title Gracy Chen, the rare but glorious woman behind Bitget’s epic growth

rewrite this title Gracy Chen, the rare but glorious woman behind Bitget’s epic growth

June 22, 2025
rewrite this title Everybody loves Raymond — but not a reboot of it; Brad Garrett shuts down any hope for a follow-up

rewrite this title Everybody loves Raymond — but not a reboot of it; Brad Garrett shuts down any hope for a follow-up

June 22, 2025
I Found Mold In My House One Month After Purchasing It, Now I’m Homeless

I Found Mold In My House One Month After Purchasing It, Now I’m Homeless

June 22, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.