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Police in Jeju, South Korea, are investigating the murder of a Chinese national believed to have been killed during a cryptocurrency transaction.

Jeju West Police Station announced that four Chinese nationals—two women and two men, including one in his 60s — are under investigation for the killing of a man in his 30s at a luxury hotel in Jeju City on February 24, according to local news outlets. 

The suspects allegedly fled with 85 million won ($63,500) belonging to the victim, according to local media. 

The case came to light when an acquaintance of the victim reported him missing after he failed to return from a cryptocurrency deal. Police arrived at the hotel room around 5:10 p.m. and found the victim dead with multiple stab wounds.

Shortly after, one suspect, a woman in her 30s, surrendered at a police station in Seogwipo. Authorities then apprehended two other suspects at Jeju International Airport as they attempted to leave the country. The fourth suspect, a man in his 60s, was arrested at a hotel casino.

Police are now focusing on whether the suspects planned the attack in advance or if it was a dispute that escalated into violence.

According to initial statements, the woman who turned herself in may have played a central role in the crime. Investigators are analyzing phone records, security footage, and transaction history to determine the exact sequence of events.

Authorities confirmed that all four suspects entered South Korea on tourist visas and had no prior records of illegal activity in the country. However, police are also looking into whether they were part of a larger network involved in cryptocurrency-related crimes.

Given the rising number of fraud and violent cases linked to digital asset transactions, law enforcement agencies in Jeju have increased monitoring of such activities.