🚨 Breaking News: Cryptocurrency Scammer Arrested in South Korea 🚔💔
South Korean police have apprehended a 38-year-old man suspected of operating a cryptocurrency scam that specifically targeted housewives and office workers.
The unidentified man is accused of deceiving his victims, resulting in losses of approximately $218,000, by enticing them with promises of high profits through investments in his cryptocurrency project.
Operating between September 2019 and August 2022, the suspect allegedly posed as a successful crypto trader or a well-qualified civil servant in investment and crypto-themed group chats on the KakaoTalk chat app platform. His primary targets were individuals seeking opportunities to boost their income.
According to reports, the scammer would convince victims that he would invest their funds in tokens set to be listed on major exchanges. However, instead of fulfilling his promises, he misused the money for online gambling at crypto-powered casinos.
This arrest occurs amidst a surge in cryptocurrency scams across South Korea. In response, authorities established a dedicated unit in March, solely focused on combating crypto-related scams. This unit is responsible for investigating and prosecuting those involved in fraudulent activities within the cryptocurrency space.
Law enforcement is also grappling with a sharp increase in drug dealing facilitated by cryptocurrencies. In 2022, the number of drug transactions involving cryptocurrencies skyrocketed by a staggering 250% compared to the previous year.
Stay vigilant and protect your investments! 🕵️♀️🔒
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