South Korean police have arrested 215 individuals, including a prominent YouTuber, in connection with a cryptocurrency scam that allegedly defrauded approximately $228 million from around 15,304 investors. The scheme involved the sale of 28 worthless tokens, which were promoted through various channels, including overseas exchanges. Authorities report that the suspects are believed to have used $9 million of stolen funds in their operations. This crackdown marks one of the largest cryptocurrency fraud cases in South Korea's history, highlighting the ongoing challenges posed by such scams in the digital currency space. In addition to the arrests, police have seized 22 Bitcoin and are investigating further assets valued at $34 million.
CoinDesk: "South Korean Police Arrest 215 in Suspected $232M Crypto Investment Scam Investigation: Yonhap" https://t.co/e3uKzWduUp
BREAKING: 215 Arrested in South Korea’s $232M Crypto Scam
Scammed: Korean Police Bust $215M Crypto Scheme, YouTube Star at Center https://t.co/E4iw0nzpUZ