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Russian national arrested in South Korea for attempted crypto robbery

South Korean authorities have arrested one of three Russian nationals accused of an attempted robbery during a fake crypto deal in Seoul. The suspects allegedly lured Korean investors to a hotel, where they tried to steal 1 billion won (approximately $730,000) in cash.

The Gangseo Police Precinct in Seoul detained a man in his 20s in Busan on May 27, according to a report by local news outlet JoongAng Daily. The suspect faces charges of assault and attempted robbery. The other two suspects reportedly fled South Korea shortly after the incident.

According to investigators, the robbery attempt occurred on May 21 at a hotel in Seoul’s Gangseo District. The suspects posed as participants in a peer-to-peer crypto transaction and invited 10 Korean men to the hotel.

Two were called to the room while the others waited in the lobby. Inside the room, the suspects — wearing protective vests — ambushed the victims with a replica handgun and a telescopic baton, tying their hands with cable ties.

Related: Another suspect to surrender in NYC crypto torture case: Reports

Police seize weapons, launch global manhunt

Per the report, one of the victims managed to escape and raise the alarm, prompting the suspects to flee without the cash. Police responded to an emergency call and found one man bleeding in the lobby.

Officers discovered a cache of equipment in the suspects’ hotel room, including a replica firearm, batons, vests and a money counter. Police suspect the robbery had been carefully planned.

A request to prevent the suspects from leaving the country was filed the next morning, but two had already departed. “We have requested assistance from Interpol to track down the suspects who fled overseas,” a police official reportedly said.

Authorities are now questioning the detained suspect and preparing to seek a pretrial detention warrant.

Related: Crypto investor loses $2.6M in stablecoins in double phishing scam

Rise in crypto crime incidents

The incident comes amid a recent uptick in crypto-related violent crimes, including kidnapping and ransom cases.

A Manhattan crypto investor faces serious charges after allegedly kidnapping and torturing an Italian man in a bid to extract access to digital assets.

Russian national arrested in South Korea for attempted crypto robbery
Source: Mario Nawfal

On May 13, the family of Pierre Noizat, the co-founder and CEO of French crypto exchange Paymium, was targeted in an attempted kidnapping.

In response, executives and investors in the crypto industry are increasingly seeking personal security services. On May 18, private firm Infinite Risks International reported a rise in requests for bodyguards and protection contracts from high-profile figures in the crypto space.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story

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Who is Shabana Mahmood – Britain’s first ever Muslim woman to become home secretary?

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Who is Shabana Mahmood - Britain's first ever Muslim woman to become home secretary?

Shabana Mahmood has become the first ever Muslim woman in British history to serve as home secretary.

After just over a year as justice secretary, which saw her decide to release some prisoners early to free up jail spaces, she will now be in charge of policing, immigration, and the security services.

The 44-year-old replaced Yvette Cooper, 10 years after she helped run Cooper’s failed Labour leadership campaign, and faces flag-waving anti-immigration protesters and the growing threat of Nigel Farage’s Reform UK.

Raised in Birmingham and Saudi Arabia

Shabana Mahmood was born in Birmingham to parents from the Pakistani-administered region of Azad Kashmir.

Soon after they were born, they moved her and her twin brother to the Saudi Arabian city of Taif, where her father worked as a civil engineer and the family would make regular visits to religious sites in Mecca and Medina.

After seven years, they moved back to Birmingham and her father, still employed as a full-time engineer, bought a corner shop and became chairman of the local Labour Party.

She attended an all-girls grammar school and then Oxford University to study law at Lincoln College, where she was elected Junior Common Room president, with a vote from former Prime Minister Rishi Sunak, who was in the year above her.

After university, she moved to London to train as a lawyer, specialising in professional indemnity for most of her 20s.

On a visit to Solihull Mosque, West Midlands, in August 2024. Pic: PA
Image:
On a visit to Solihull Mosque, West Midlands, in August 2024. Pic: PA

‘My faith is the centre point of my life’

At the age of 29 in 2010, she was elected MP for her home constituency of Birmingham Ladywood, a safe Labour seat, with a majority of just over 9%, which grew to 82.7% at its peak in the snap election of 2017.

Along with Rushanara Ali and Yasmin Qureshi, this made her one of Britain’s first female Muslim MPs.

In an interview with The Times, she said: “My faith is the centre point of my life and it drives me to public service, it drives me in the way that I live my life and I see my life.”

She held several shadow cabinet positions under Ed Miliband’s leadership, including shadow prisons and higher education minister, and shadow financial secretary to the treasury.

Being sworn in as justice secretary in July 2024. Pic: PA
Image:
Being sworn in as justice secretary in July 2024. Pic: PA

Read more from Sky News
What a moment for Shabana Mahmood to take the helm
Cabinet reshuffle – who’s in and who’s out?

Often described as ‘blue Labour’, Mahmood returned to the backbenches when Jeremy Corbyn took over as party leader in 2015, telling him as she refused a shadow cabinet position: “I’ll be miserable and I’ll make you miserable as well.”

She had chaired her now-predecessor Yvette Cooper’s failed campaign to beat him to the leadership.

During the Corbyn years, she was elected to the Parliamentary Labour Party’s National Executive Committee and as vice chairman of the party’s National Policy Forum.

When Mr Corbyn was replaced by Sir Keir Starmer, Ms Mahmood became national campaign coordinator and was tasked with preparing Labour for the next general election.

During her two-and-a-half years in that job, she is credited with helping Labour win the Batley and Spen by-election and helping Sir Keir recover from Labour’s defeat in Hartlepool – where the Conservatives won for the first time ever in 2021.

On a visit to HMP Bedford in July 2024. Pic: PA
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On a visit to HMP Bedford in July 2024. Pic: PA

At the opening of HMP Millsike in March. Pic: PA
Image:
At the opening of HMP Millsike in March. Pic: PA

Early prison release scheme and views on Gaza

Soon after becoming justice secretary and lord chancellor, Mahmood commissioned a report into the crumbling prison estate.

Carried out by one of her Conservative predecessors, David Gauke, it revealed they were practically full, and triggered a controversial decision to release more than 1,000 inmates early to ease pressure on the system.

The Ministry of Justice were forced to apologise after it emerged 37 prisoners had been released by mistake.

Holding a taser at an event to launch a taser trial in a male prison in Oxfordshire in July. Pic: PA
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Holding a taser at an event to launch a taser trial in a male prison in Oxfordshire in July. Pic: PA

She has also endorsed tougher immigration laws, announcing in August that foreign criminals will be deported after sentencing, and has been critical of their use of human rights lawyers, calling for reform of the European Convention on Human Rights as a result.

Answering questions on Asian grooming gangs, she previously told former Tory minister Michael Gove in The Spectator that there is “still a moment of reckoning” and an “outstanding question of why so many looked the other way”.

Shabana Mahmood shakes hands with US Homeland Security Secretary Kristi Noem on 8 September. Pic Reuters
Image:
Shabana Mahmood shakes hands with US Homeland Security Secretary Kristi Noem on 8 September. Pic Reuters

She has also been vocal on Labour’s stance on Gaza, warning the prime minister that “British Muslims are feeling a very strong sense of pain” and that the government would have to rebuild their trust.

When she was last re-elected in 2024, she suffered a 42% drop in her majority, facing off an independent candidate whose campaign centred around Palestinian rights.

Like her parliamentary neighbour, Labour MP Jess Phillips, she said the election campaign had been “sullied by harassment and intimidation”.

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HSBC, ICBC eye Hong Kong stablecoin licenses under new regime: Report

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HSBC, ICBC eye Hong Kong stablecoin licenses under new regime: Report

HSBC, ICBC eye Hong Kong stablecoin licenses under new regime: Report

HSBC and ICBC reportedly plan to apply for Hong Kong stablecoin licenses, with ICBC and Standard Chartered expected to secure first-round approvals.

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Backpack EU begins operations with CySEC-approved derivatives platform

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Backpack EU begins operations with CySEC-approved derivatives platform

Backpack EU begins operations with CySEC-approved derivatives platform

Backpack EU, owner of the former FTX EU, launches a regulated perpetual futures platform in Europe after settling with the Cyprus regulator and securing a MiFID II license.

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