Police in South Korea have captured a cryptocurrency scammer who reportedly defrauded thousands and thousands of {dollars} from unsuspecting victims.
Based on the South Korean publication Newsis, the Seoul Metropolitan Police Company’s Monetary Crimes Investigation Unit arrested and indicted the suspect, Mr. Kim, over fraud and varied different expenses.
Per the report, Kim allegedly lured 158 victims right into a crypto mining funding scheme that promised 18% returns a month between November 2021 and June 2022. The report says Kim allegedly defrauded the victims out of roughly 4.5 billion South Korean gained price round $3.36 million.
Within the means of arresting Kim, Newsis says the police confiscated 100 million gained ($74,700) from the alleged crypto scammer. The South Korean police have additionally obtained an order freezing 1.3 billion gained ($972,000) linked to Kim.
Kim’s arrest is coming months after he first emerged as a suspect.
Based on the report, Kim failed to look for an interrogation that was scheduled for September of 2023. An arrest warrant was subsequently issued however the alleged crypto scammer managed to evade getting apprehended for months.
Investigators say, per the report, that Kim evaded detection by present process beauty surgical procedure at a price of round 21 million gained ($15,700) and carrying wigs. The beauty surgical procedure reportedly altered Kim’s look, together with his eyes, nostril and face contour. The alleged crypto scammer additionally reportedly modified his residence continuously and largely relied on money for his bills.
Based on Newsis, the South Korean police have been in a position to monitor down Kim to his actual location by way of using cellphone data, surveillance footage and web search historical past.
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