South Korea's fight against crypto crime is heating up, and prosecutors are calling for swifter justice. Lee Jeong-ryeol, head of the nation's dedicated crypto investigation unit, argues that lengthy court cases are hindering efforts to combat fraud and restore trust in the digital asset market.

Lee emphasizes the urgency of faster prosecution. He believes crypto-related crimes, while involving new technology, are essentially financial scams at their core. "Stealing property through lies" remains the same, regardless of the method, he argues.

The dedicated crypto investigation unit, established in July 2023, is tackling a surge in crimes. From high-profile altcoin scandals to illegal OTC trading networks worth millions, Lee's team is on the front lines.

The unit faces unique challenges. Many crypto-related crimes are unprecedented, lacking legal benchmarks. Lee highlights the prevalence of "scam coins," where perpetrators exploit unsuspecting victims.

Lee emphasizes the need for a unified government response. Faster investigations and prosecutions are crucial not only to deter crime but also to help victims recover stolen funds.

This push for swifter justice comes amid a wider crackdown on crypto crime in South Korea. The country recently moved to make the temporary crypto investigation unit a permanent fixture, demonstrating its commitment to tackling this evolving challenge.