#SouthKoreaCryptoPolicy South Korean police arrest 215 people for an alleged cryptocurrency scam of 228 million dollars.

The alleged criminal network is the largest cryptocurrency investment scam in the country's history,

The police of South Korea arrested 215 people on suspicion of stealing 320 billion won (228.4 million dollars) in the country's largest cryptocurrency investment scam.

The Gyeonggi Nambu provincial police reported on Wednesday that among those arrested is the alleged mastermind of the organized crime group, accused of selling 28 types of virtual tokens to about 15,000 people with the promise of high returns. Known as Mr. A, he had fled to Australia but was arrested and extradited. Police confiscated 22 bitcoins from his accounts and requested the seizure of an additional 34 million dollars. Only 12 of the 215 people remain detained.

The police stated that the group had issued six of the 28 tokens on international cryptocurrency exchange platforms and was running a team of market makers to drive up prices. The police described the tokens as "useless." Members of the alleged criminal network are also accused of using personal information obtained through digital advertising, including nearly 9 million phone numbers, and of theft to obtain fraudulent loans.