A South Korean man is facing potential jail time after allegedly poisoning his business partner with pesticide-laced coffee in a dispute over more than $816,000 in cryptocurrency investment losses, according to reports from Chosun and Asia Business Daily.
The Seoul Eastern District Prosecutors’ Office has accused the man, in his 30s, of adding the pesticide methomyl to his partner’s coffee during a meeting at a café in November. The victim lost consciousness and collapsed, only regaining awareness three days later after being rushed to the hospital.
Background of the Dispute
The two men began operating an investment business managing Bitcoin (BTC) investment programs in 2022. However, tensions rose when the accused allegedly lost over 1.17 billion Korean won ($816,000), including company funds he had invested personally. This led to the alleged victim taking control of the company’s finances, sparking a heated conflict.
Personal Impact
The alleged victim, who remains unnamed, told Asia Business Daily that the incident occurred just as he was about to get married, and his wife was in the early stages of pregnancy. “My family was almost completely destroyed,” he said. “I’ve recovered a lot now, but I still go to the hospital.”
Legal Proceedings and Crypto Climate
A trial is scheduled for March 10 at the Seoul Eastern District Court, where the accused faces charges of attempted murder and violation of the Pesticide Control Act. The case unfolds against a backdrop of a generally friendlier environment for cryptocurrency in South Korea since President Lee Jae-myung’s election in June. Lee has been pushing forward with various crypto-related laws, including a bill to legalize stablecoins, which has bolstered the local market.
The number of crypto exchange users in South Korea surpassed 16 million last year, representing more than 30% of the population, as the crypto market hit new highs. However, the wider crypto market saw a downturn late in 2025, with Bitcoin falling from its October peak of over $125,000 to trade under $90,000 by late December. It continues to trade at around $65,500.
Looking Forward
The case highlights the volatile and sometimes dangerous nature of the cryptocurrency industry, where high stakes and high emotions can lead to extreme actions. As South Korea continues to navigate the complexities of regulating this burgeoning sector, the incident serves as a stark reminder of the need for robust legal frameworks to protect investors and prevent such tragic outcomes.
About the Author
