Police Conduct Additional Raids on 20 Cryptocurrency Exchanges Related to 'Baksa-bang' Case

Jo Joo-bin, the operator of the 'Doctor's Room' who threatened dozens of women including minors on the internet messenger Telegram and forced them to film obscene materials which he then distributed, is coming out of Jongno Police Station in Seoul on the morning of the 25th to be sent to the prosecution. / Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Song Seung-yoon] The police are conducting raids on cryptocurrency exchanges and securing related data to track paid members who paid money to join the Telegram 'Baksa Room' operated by Jo Joo-bin (24, in custody).

According to the police on the 6th, the Cyber Safety Division of the Seoul Metropolitan Police Agency has been executing search warrants sequentially since 10:30 a.m. on 20 cryptocurrency exchanges and purchasing agencies. The raids include cryptocurrency exchanges such as Bithumb, Upbit, and Coinone, as well as five agencies previously identified by the police, including the agency Best Coin.

The police have secured transaction records from Best Coin over the past eight months among the exchanges and agencies previously identified. They have been comparing these records with cryptocurrency wallet information presumed to be held by Jo to find suspicious transactions.

Jo Joo-bin, the operator of the 'Doctor's Room' who threatened dozens of women including minors on the internet messenger Telegram and forced them to film obscene materials which he then distributed, is coming out of Jongno Police Station in Seoul on the morning of the 25th to be sent to the prosecution. / Photo by Moon Ho-nam munonam@

The current raids are also aimed at investigating whether Jo used other exchanges or agencies beyond those already identified, or if he used cryptocurrency wallets registered under other people's names.

Since starting the related investigation in September last year, the police have identified about 15,000 nickname records of participants in the 'Baksa Room' and related groups. Based on this, they are known to have identified numerous paid members.

A police official said, "The purpose of this raid is to additionally verify cryptocurrency wallet addresses and paid members used by Jo in the crime," adding, "We will continue the investigation based on the secured data."