Seoul’s Court has ordered the “freeze” of all crypto wallets, security deposits, and stock accounts of an individual allegedly involved in child pornography. The decision came after a petition demanded from prosecutors.
Cho Ju-bin, The Suspected Head Of Nth Room On Target
As announced, the Seoul Central District Court Criminal Settlement Division 30 (led by trial chief Lee Hyun-woo) froze 15 crypto wallets of the alleged manager of Telegram channel Nth Room, Cho Ju-bin, who has been under investigation for a while now for circulating child porn and other explicitly criminal content.
The well-known case is also connected with blackmail, cybersex trafficking, and sexually exploitative images and videos, sold by a man nicknamed God God through a variety of channels in the Telegram messenger.
It is suspected that the confiscated funds are a result and an outcome of the Nth Room broadcasting network activities.
Investigators Discover 130 Million Won (USD 106,734) In Cho’s Residence
The Court’s announcement also mentions the discovery of 130 million won (worth $106,734) in the suspect’s home earlier in April, which has been taken in mind during the case as a proof of the criminal activities and profits scale.
Furthermore, the investigators have revealed that leaders and thousands of subscribers in the Nth Room have been paying for images and video content with virtual currencies, which basically led to the recent actions by investigators and the Korean Court.
Handling The Situation With Help Of The Crypto Community
Local police authorities have started to deal with the situation, keeping their eye on suspected people via their digital fingerprints. Yet, identifying them remains a challenge.
As it was announced in a news report, four major virtual currency institutions have pledged participation in the process of bringing a bit more light and clearance on the Nth Room case.
According to the publication, four of the biggest cryptocurrency exchanges – Upbit, Bithumb, Korbit, and Coinone have stated that they will be partnering actively in an alliance between South Korean investigators and Court, helping however they can.