Korean police on-chain investigation targets Polymarket users, involving $12.7 million in bets

Odaily News: The cyber investigation unit of the Gangwon Special Self-Governing Province Police Agency in South Korea identified 26 Polymarket users by analyzing public blockchain transaction records and on-chain open-source intelligence, and opened cases on suspicion of illegal gambling. Among them, 18 people have been transferred to the prosecution, with cumulative bets of $12.7 million, and the highest amount bet by a single user was $4.1 million.

The police launched a preliminary investigation in March and filed cases against those involved starting in May; the Korea Communications Standards Commission only ordered the blocking of Polymarket on August 18, and the transactions under investigation by authorities occurred during the period when the platform was still normally accessible. The police are advancing the investigation based on Article 246 of South Korea's Criminal Act. (Bitcoin.com News)