Last updated on July 15th, 2020 at 01:36 pm
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A South Korean court ordered the freeze of the crypto wallets belonging to a child porn controller today.
Today, a South Korean court ordered a freeze on all the cryptocurrency wallets, securities deposits, and stocks account belonging to Cho Ju-bin, the suspected head of Park’s Room.
According to a local news outlet, KBS Korea, the Seoul Central District Court Criminal Settlement Division 30, led by Judge Lee Hyun-woo, accepted the prosecutors’ request to freeze 15 crypto wallets that is reportedly owned by Cho.
Read Also: Crystal Blockchain Analytics Report Suggests that the Bitcoin Activity on Dark Web Increased by 65% in Q1 2020.
The court ordered a confiscation and bag preservation, a procedure to temporarily prevent the use of illegal proceeds so that a confiscation order can be executed in accordance with future court decisions.
The prosecutors claim to have seen 130 million won ($106,734) in cash at Cho’s house in April as part of the evidence proving the criminal’s gains.
Cho is accused of leading a network of sexual exploitation and broadcasting videos of child rape through his Park’s Room, a Telegram channel currently under investigation for exposing child pornography.
The investigators looking into the case revealed that Cho collected payments in crypto in other to allow subscribers access the chat room on telegram.