Police Crack Down on “Revenge Agencies” Offering Violent Services for USDT Payments Amid Surge in Crypto-Related Forgery in South Korea

Police Crack Down on “Revenge Agencies” and Forgery Rings in South Korea

SEOUL, South Korea — In a troubling trend, South Korean authorities are intensifying their efforts to combat the rise of “revenge agencies” and social media-based forgers who are exploiting cryptocurrency for illicit activities. Reports have surfaced of forgers offering “100% authentic-looking” documents, including university degrees, in exchange for digital currencies like USDT.

A recent investigation by the South Korean media outlet Herald Kyungjae revealed that would-be customers can acquire a fake graduation certificate from Yonsei University—one of the nation’s top institutions—for just over $200 in cryptocurrency. This alarming trend highlights the intersection of technology and crime, as criminals increasingly turn to platforms like Telegram to facilitate their operations.

“I can send you a certificate of enrolment for a top university for $100,” a forger told a Herald Kyungjae reporter, emphasizing the speed of their service: “Just provide your information, and we will deliver it to you within two hours.” Yonsei University, ranked fiftieth in the QS 2026 global rankings, is particularly targeted due to its prestigious reputation.

The forger explained their preference for cryptocurrency payments, citing the anonymity it provides. “If you pay using a bank transfer, you, as the customer, could also become a target of a police investigation,” they warned. This tactic not only shields the forgers but also complicates law enforcement efforts.

As police ramp up their crackdown on these operations, they report that the number of arrests for forgery has nearly doubled from 2021 to 2023. Many cases remain undetected, raising concerns about the broader implications of such criminal activities. The forgers are not limited to academic documents; they also offer a range of fake official papers, including driving licenses, family relationship documents, and criminal record certificates.

In a chilling twist, the police are also targeting “revenge agencies” that accept USDT payments for violent crimes. These agencies have gained notoriety for their willingness to carry out acts of violence in exchange for cryptocurrency, further complicating the landscape of crime in South Korea.

The forger, seemingly unfazed by the potential legal repercussions, warned the reporter about “competitor agencies” that may be scams, suggesting a cutthroat environment among those engaged in illegal document production. They also quoted prices for other forged documents, such as a fake graduation certificate from a foreign university for $341, asserting, “These certificates look 100% identical to the originals.”

As South Korea grapples with these emerging threats, the government is under pressure to enhance its regulatory framework surrounding cryptocurrency and digital transactions. The rise of such criminal enterprises underscores the urgent need for comprehensive strategies to combat forgery and violent crime in the digital age.

Crypto Market Update

In related news, Bitcoin is currently trading at $75,487, down 0.7% over the past day, while Ethereum has seen a decline of over 1%, trading at $2,329.

For more updates on this developing story, stay tuned.

Tim Alper is a News Correspondent at DL News. Got a tip? Email him at tdalper@dlnews.com.