A #SouthKorean an government official has been accused of misappropriating approximately $400,000 in public funds over a seven-year period. The funds were allegedly used to invest in cryptocurrencies and stocks.
The accused, a grade six civil servant working at Cheongju City Hall, is suspected of forging documents to cover up the embezzlement. Authorities have seized assets including apartments and vehicles in an attempt to recover the stolen funds.
This incident comes amidst increased #regulatory scrutiny of the crypto industry in South Korea, following the #collapse of Terra-Luna and FTX. The country recently enacted a new #law aimed at #Protecting crypto investors.
$BTC