A man in his 30s has been arrested by South Korean police for using cryptocurrency mining investments as bait to defraud 250 million won (about $187,000).
According to the Ulsan South Police Station, from May 2021 to May this year, suspect A defrauded investment funds by promising high returns of 3 to 4 times to members of the interest group.
The investigation found that A did not use the funds for mining business, but to pay off personal debts, wedding supplies and life expenses. At present, A has been arrested by the police and the case will be handed over to the prosecution.
A South Korean man who used cryptocurrency mining investment as bait to defraud 250 million won has been arrested by the police
2024-09-24 01:43:34
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