Vietnam-Based Gambling Ring Processed $46 Million in Bets Before Korean Police Shut It Down

A gambling operation run from an office in Vietnam processed about 63 billion won ($46 million) in bets over roughly 10 months, according to Korean police, who have now referred 13 alleged operators and 105 high-stakes users to prosecutors.

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The Chungbuk Provincial Police Agency said the group began operating the site in April 2024. Its platform offered baccarat, slot games and sports betting, targeting Korean users despite the country’s broad prohibition on gambling.

The operation was built to look like a conventional online betting service. Users were brought in through text messages and banner advertising, then deposited money into accounts connected to the site. Investigators believe the operators kept the funds lost by players.

The scale of the activity only became clear after police traced the financial network behind it.

More Than 3,500 Users Identified

Investigators found 3,553 users had deposited money through the site, with total deposits reaching 63 billion won. One user wagered as much as 1.3 billion won.

Police selected 105 users who had placed particularly large bets and referred them to prosecutors along with the alleged operators. The charges include running an illegal gambling venue and violations of South Korea’s National Sports Promotion Act.

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The investigation began after police received a tip in September 2025. Officers then examined transaction records from more than 200 bank accounts believed to have been used by the operation.

That financial trail led investigators to the management team. Police eventually apprehended all but one of the people believed to have been involved in running the site.

The suspected ringleader had already left the country.

Police are continuing to track the fugitive, who is believed to have fled overseas.

Authorities have also obtained a court order freezing 186.35 million won in suspected criminal proceeds ahead of indictment. The amount is only a fraction of the money that moved through the operation, but it represents funds investigators currently believe can be linked to criminal activity.

The case remains open as police pursue the missing ringleader and continue examining the operation’s financial records.

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Source: www.koreajoongangdaily.com