South Korean Police Raid Illegal Gambling Den Disguised as Crypto Mining Center
South Korean police have raided a suspected illegal gambling den whose operator claimed it was a center for crypto mining.The news agency Yonhap and the media outlet Asia Kyungjae reported that Gwangsan Police Station in...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
South Korean police have raided a suspected illegal gambling den whose operator claimed it was a center for crypto mining.
The news agency Yonhap and the media outlet Asia Kyungjae reported that Gwangsan Police Station in Gwangju, South Jeolla Province, announced on April 9 that officers are questioning the alleged den’s operator.
Officers are holding the operator on suspicions of violating the Game Industry Promotion Act.
South Korean Police Raid ‘Bogus Crypto Mining Center’Officers said they had confiscated 50 gaming machines and two kiosks from what they called an “unregistered office” in the city.
Inside a suspected illegal gambling room in an office in Gwangsan, Gwangju. Police say they seized 50 gambling machines from a facility disguised as a crypto mining center. (Source: Gwangsan Police Station)Police said that the operator had “modified” free mobile games so they could be played on PC terminals.
A police spokesperson claimed the operator charged players 50,000 won (around $34) per hour to play the games at the terminals.
The operator then allegedly paid out cash prizes to high-scoring players. Officers said that they estimated the room generated a total of 140 million won ($95,000) worth of illegal proceeds.
However, officers also said the premises “was disguised as a center for mining virtual currency” and “exchanging coins.”
Gwangsan District Office, in Gwangsan, South Jeolla Province, South Korea. (Source: hyolee2 [CC BY-SA 4.0])Search for ‘Accomplices’ Ongoing – PoliceThe police spokesperson added that investigators “plan to continue their probe” into the alleged gambling den.
They said that they were searching for possible “accomplices” who may have “assisted” the operator in committing the alleged crimes. The spokesperson concluded:
“We plan to crack down – continuously and resolutely – on illegal gaming rooms. These establishments pose a threat to the public economy. We will actively block illegal gaming centers from reopening or expanding their reach.”
Tariff rate on S. Korea should be 10 percent, if correctly calculated, economists sayhttps://t.co/JGrvvPhx8v#Tariffs #Trump
— The Korea Herald 코리아헤럴드 (@TheKoreaHerald) April 9, 2025In September last year, police officers in South Jeolla Province arrested seven suspects in a raid on a “crypto-powered drug dealing” ring.
Officers detained a suspected dealer, accusing them of “colluding with a drug distribution organization” to hide methamphetamine in 118 parts of Gwangju’s West and North districts.
The post South Korean Police Raid Illegal Gambling Den Disguised as Crypto Mining Center appeared first on Cryptonews.
Why this matters
This mining story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptonewsRelated market context
WhiteFiber Inc. agrees to acquire North Carolina property for up to $60M as it pivots from crypto mining to AI data centers
WhiteFiber's pivot to AI data centers highlights a strategic shift in tech infrastructure, emphasizing energy efficiency and rapid...
South Korea Ends 1M Won Crypto Travel Rule Limit in Major AML Crackdown
Key Takeaways: The Travel Rule will be adopted by South Korea for all transfers between registered VASPs. Amidst AML controls, ove...
HIVE Digital Technologies reports $79.1M in Q1 fiscal 2027 revenue as Bitcoin mining and AI segments surge
HIVE's revenue growth highlights the increasing significance of digital currency and AI sectors, potentially reshaping tech invest...
Hyperliquid Policy Center and Douro Labs urge SEC to repeal trade-through rule for onchain markets
Repealing Rule 611 could redefine market dynamics, fostering innovation in decentralized finance while challenging traditional reg...
Gerber Warns Strategy’s Bitcoin Leverage Could Trigger a Selloff
In Bitcoin news today, Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, argued this week that gold remains ea...
Meta and BlackRock’s $14B Texas data center is too big for most insurers to handle
The insurance gap for mega-scale projects like Meta and BlackRock's data center may slow AI infrastructure investment and raise fi...