Korean bank worker steals $700,000 to buy crypto — loses the lot – DL News
- Unnamed staffer stole $724,620, says bank.
- Bank will write off most of the losses.
- Police set to investigate.
A loans manager at the South Korean financial institution Kwangju Bank embezzled $724,620 from the bank and spent it on crypto investments.
The lender says the unnamed manager stole the money between May and November 2023, but only realised the funds were gone in the second half of this year, wrote KBC News.
“We discovered this embezzlement case during a recent review of project financing loan interest history data,” a Kwangju Bank spokesperson said. “We will decide on the level of disciplinary action we will take once we have concluded an internal audit.”
The employee has paid the bank back $105,581, the spokesperson said.
