A 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 from July last year to August this year, which were intended for church construction, but transferred to a friend's account and invested in cryptocurrency, ultimately resulting in total losses. The case is currently under further investigation.