South Korea's Chungcheong North Police Department Interpol Mobile Team said that it has arrested three people including the main criminal A (in his 40s) on suspicion of fraud and similar deposit violations in the Specific Economic Crime Punishment Law, and transferred four accomplices to the procuratorate without detention. A and others defrauded 27 victims of a total of 5.80 billion won from 2022 to last year, claiming that investing in the virtual currency they guaranteed could earn a lot of wealth.
The investigation revealed that they deceived victims into investing by displaying large amounts of virtual currency they held, claiming that they could manipulate the price of the currency, or falsely claiming that some virtual currencies were about to be listed.
A and others have also held investment briefings by reaching out to the bourgeoisie and other targets. False promises can earn at least three times more, but some of these virtual currencies have even been cancelled.
It is reported that A and others used most of the fraudulent proceeds for entertainment consumption or to pay off debts.
South Korea "can control the currency price" fraud gang defrauded 5.80 billion won investment money, 3 people were arrested and transferred to the procuratorate
2025-10-29 07:12:28
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