According to Bitcoin.com, the Gangwon Province Police Agency’s Cyber Investigation Division launched an investigation in March of this year and began arresting Polymarket users starting in May. Since the platform operates as a non-custodial peer-to-peer market, authorities were unable to obtain user lists from the operator and instead conducted on-chain forensic analysis using publicly available blockchain transaction records, successfully identifying and locating the identities of involved users. As of September 15, a total of 26 individuals have been arrested on suspicion of violating Article 246 of the Criminal Code on illegal gambling, with 18 already transferred to the prosecution. The total涉案 amount involved is approximately $12.7 million (roughly KRW 17.6 billion), with the largest individual trader implicated in transactions totaling $4.1 million. The Korea Communications Standards Commission officially blocked access to Polymarket in South Korea on August 18.
South Korean police arrest 26 Polymarket users via blockchain tracing
TechFlowShare
Summary
South Korean police arrested 26 Polymarket users by analyzing on-chain data linked to illegal gambling. Unable to access user information directly, authorities traced blockchain transactions to identify suspects. The case involved $12.7 million, with a single trade reaching $4.1 million. Polymarket was officially blocked in South Korea by August 18. On-chain data continues to play a key role in tracking altcoins of interest in the region.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.