Major Arrest Made in $12.8 Million Crypto Mining Scam 🚨
The Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit has made a significant breakthrough by capturing 14 individuals involved in a massive $12.8 million (16 billion won) cryptocurrency mining scam.
Mastermind’s Elaborate Tactics to Avoid Capture 🕵️
The mastermind behind this elaborate fraud, a man in his 40s known only as Lee, resorted to extreme measures to evade law enforcement, including undergoing plastic surgery to alter his appearance.
– The South Korean authorities announced on August 30 that Lee had been taken into custody after a 10-month manhunt.
– Lee is accused of orchestrating a fraudulent virtual asset mining business that defrauded 158 victims between November 2021 and June 2022.
Suspect Apprehended After 10-Month Chase 🏃♂️
Despite being on the run for almost a year, Lee’s luck eventually ran out when he was apprehended earlier this month. He had been evading authorities since September of the previous year after failing to show up for a crucial examination related to his arrest warrant.
– Lee spent 20 million won on plastic surgery to modify his appearance and avoid detection by law enforcement.
– With the help of his law firm’s office manager, Lee managed to find a plastic surgery clinic and obtain a fake phone to throw off investigators.
Recruiters Involved in Fraudulent Scheme Also Apprehended 🧑⚖️
In addition to Lee’s arrest, the authorities also detained the eight recruiters who played pivotal roles in the deceitful operation. These individuals were handed over to the prosecution in separate instances last year and earlier this month.
– The recruiters were instrumental in convincing people of the profitability of the business, leading to significant investments from victims.
– Lee allegedly embezzled 4.5 billion won ($3.6 million) from the 16 billion won collected, further highlighting the intricate nature of the scam.
Hot Take: Stay Vigilant and Exercise Caution in the Crypto Space! 🔒
The recent arrest of the individuals involved in the $12.8 million crypto mining scam serves as a stark reminder of the risks present in the cryptocurrency industry. It is essential to remain vigilant and exercise caution when engaging in any virtual asset-related activities to avoid falling victim to similar fraudulent schemes. Stay informed, conduct thorough research, and seek guidance from trusted sources to protect yourself from potential scams.
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