A 23-year-old man, known as the "Crypto King," was arrested in Cavite for allegedly running a multi-million peso cryptocurrency scam, defrauding victims, including police and media personalities, by promising double returns on investments but using the money for gambling.

Authorities estimate his total scams to be between P500 to P600 million, and the suspect is currently in CIDG custody at Camp Crame.

#yggalerts credits to ygg.