South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency scam business. The scam resulted in individual losses ranging from 1.2 million to 250 million won. After failing to appear at a pre-trial hearing in September 2023, he evaded capture for 10 months by undergoing plastic surgery on his eyes, nose, and face contour — costing approximately 21 million won — and wearing wigs to change his appearance. Authorities used surveillance footage, phone records, and internet search histories to locate and apprehend him in Guri, Gyeonggi Province, in August 2024.
Source: Bitcoin
