South Korean Police Solve $4.3 Million Fake Cryptocurrency Fraud Case

According to reports from South Korean media, the Anti-Corruption and Economic Crime Investigation Team of the Southern Seoul Police Agency announced the resolution of a fraudulent cryptocurrency investment case, arresting and transferring three suspects. The gang used the worthless 'GCV (Golf Cart Victoria)' fake cryptocurrency as bait, claiming that purchasing tokens would grant access to golf memberships in Asia, deceiving 129 victims and defrauding a total of about 5.7 billion won (approximately $4.3 million). After a year of investigation, the police successfully captured the suspects and collected relevant evidence, stating that they would track the criminal proceeds to help victims recover their losses.