Police in South Korea’s Gangwon Special Self-Governing Province have identified 26 Polymarket users after reviewing public blockchain transaction records and open-source intelligence, according to Bitcoin.com News as cited by Odaily. Authorities opened cases against the users on suspicion of illegal gambling, and 18 of them have already been referred to prosecutors. The total amount wagered in the case reached $12.7 million, while the largest single user stake was $4.1 million. The cyber investigation unit began a preliminary probe in March and started formally booking the individuals in May. South Korea’s communications review body did not order Polymarket blocked until Aug. 18, meaning the transactions under review took place while the platform was still accessible in the country. Police are pursuing the case under Article 246 of South Korea’s Criminal Act.
South Korea’s Gangwon Special Self-Governing Province Police Agency cyber investigation unit has identified 26 Polymarket users by analyzing public blockchain transaction records and open-source intelligence on-chain, according to Bitcoin.com News cited by Odaily.
Police opened cases against the users on suspicion of illegal gambling. Eighteen of them have already been referred to prosecutors. The combined amount wagered reached $12.7 million, and the highest total placed by a single user was $4.1 million.
Investigation timeline
Authorities began a preliminary investigation in March and started formally booking the individuals involved in May. South Korea’s communications review body did not order Polymarket blocked until Aug. 18, so the transactions under investigation took place while the platform was still accessible in the country.
Legal basis
Police are proceeding under Article 246 of South Korea’s Criminal Act.
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