Involved in Pica Coin fraud, Lee Hee-jin of South Korea transferred to Seoul Police Station with new charges of $19.27 million

CoinNetwork · 2026-01-08T10:47:22+00:00

Lee Hee-jin has been transferred to the Seoul Police Agency on charges of virtual asset fraud, facing a lawsuit of 28 billion KRW, involving failure to pay settlement funds as agreed and manipulating the token market. She was previously arrested and released on bail for other fraud-related activities.

CoinNetwork

2026-01-08 10:47:22

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Coinsilium News: According to News1, Lee Hee-jin (transliteration), known as the “Cheongdam-dong Stock God,” is suspected of virtual asset fraud. The case has been transferred from Seoul Gangnam Police Station to Seoul Police Agency’s Financial Crime Investigation Division. Lee Hee-jin was previously sued by her business partner and Pica Coin issuing company representative, who alleged that Lee Hee-jin failed to pay approximately 1.88 billion Korean won in settlement funds as agreed. The complainant subsequently added charges claiming the total damages have reached 28 billion Korean won (approximately $19.27 million). The two had signed a contract in 2020 to jointly develop a token for fractional art investment, but Lee Hee-jin allegedly failed to comply with the agreed profit-sharing ratio. Previously, Lee Hee-jin was tried in a separate case for allegedly committing fraud worth approximately 90 billion Korean won (approximately $61.95 million) involving three tokens including Pica Coin through false advertising and market price manipulation. She was arrested in October 2023 and was granted bail in March 2024.

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