A South Korean church accountant is suspected of embezzling 480 million won in donations to invest in cryptocurrency and incurred losses, and the police have applied for an arrest

ChainCatcher news, according to the Jeonnam Mokpo Police Station in South Korea, a church accountant in his 60s has been applied for arrest on suspicion of embezzlement.

The man allegedly misappropriated approximately 480 million won in donations, which were intended for church construction, transferring them to a friend's account and then investing in cryptocurrency, ultimately losing all of it. The case is currently under further investigation.