From Littering to Major Arrest
A routine stop for littering in Seoul turned into a dramatic breakthrough when police uncovered the identity of a man wanted for a massive cryptocurrency scam. The 60-year-old suspect panicked during questioning, refused to show ID, and even tried bribing officers—raising suspicions that ultimately exposed his five-year escape from justice. 🕵️♂️
👉 $BTC
A $13 Million Fraud Case
Investigators revealed that the fugitive had allegedly scammed 17.7 billion won ($13m) from around 1,300 investors. Using false promises tied to crypto investments, he lured victims into schemes that collapsed, leaving them with huge losses. Authorities confirmed he faces 10 separate fraud charges linked to these activities. 🚔
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Prosecutors Take Over
Following his arrest, the man was handed to the Seoul Southern District Prosecutors’ Office, which had long pursued the case. His capture is being hailed as a major win in South Korea’s battle against crypto-related crimes, which have been on the rise in recent years. ⚖️
Global Concerns Over Crypto Scams
The case reflects a troubling global trend. According to Chainalysis, cryptocurrency platforms lost an estimated $2.2 billion to theft in 2024, while illicit actors received nearly $40.9 billion overall. South Korea has been particularly hard hit, with police uncovering scams worth hundreds of millions and arresting over 200 suspects last year alone. 🌍
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