A bank employee invests in Bitcoin by stealing from his customers

Internal steering – A bank employee in South Korea allegedly stole money from some of his customers. He would then have decided to invest them in Bitcoin (BTC) and in other cryptocurrencies.

Inside man in the crypto era: from bank vaults to Bitcoin

An employee of the South Korean bank BNK Busan Bank, who is apparently fearless, would have used the cash box to invest in cryptocurrencies, in the middle of the crypto winter.

The employee, whose identity has not been revealed, allegedly hijacked 1.48 billion Korean wonor approximately $1.1 million, of funds belonging to the bank’s customers, to be invested in Bitcoin and other cryptocurrencies.

The hijackings allegedly took place between June 9 and July 25. The bank will conduct an internal audit and take legal action against the employee.

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Banks and cryptocurrencies in South Korea: increased surveillance

The information revealed, related to this affair, is for the moment relatively meager. The disclosure of this incident comes at a time when South Korean regulators have begun to analyze foreign exchange transactions at commercial banks in the country.

This operation began last June. The authorities are looking any illicit transactions which would have a link with cryptocurrencies.

The news in South Korea thus continues to be marked by thefts linked to cryptocurrencies. The BNK Busan Bank employee invested in Bitcoin and other cryptocurrencies using client funds, as last June South Korean police uncovered the diversion of 80 BTCby a Luna Foundation Guard (LFG) employee.

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