Mastermind of a $200 Million Crypto Scam in South Korea Arrested After Two Years on the Run Overseas

On May 30, according to Newsis, South Korean police reported that a key suspect in a virtual asset investment fraud case, the case manager identified as A, was apprehended and transferred to the prosecution after nearly two years on the run overseas. The police accused him of participating in a fraud organization between 2021 and 2023, luring former consulting company clients with promises of "high returns" to invest in 28 worthless virtual currencies. The case involves an amount of 320 billion Korean won (approximately 230 million USD) and about 10,000 victims.