Suspected Cryptocurrency Scammer Arrested After Five Years on the Run
SINGAPORE – A notorious cryptocurrency scammer’s long evasion of the law came to a dramatic end when he was apprehended for littering near a bustling train station in Seoul, as reported by police on Friday.
What seemed like a routine arrest for a minor offense took a surprising turn when the suspect, caught tossing a cigarette butt, frantically implored officers to overlook his transgression and attempted to flee the scene.
Refusing to cooperate, the man refused to produce identification, feigned a phone call, and even went as far as offering a bribe to evade capture.
Subsequent interrogation revealed his involvement in an elaborate cryptocurrency scam, duping a staggering 17.7 billion won ($13m; £9.5m) from over 1,300 unsuspecting victims.
The man, described as being in his 60s, was found to have an outstanding arrest warrant for a total of 10 charges linked to the cryptocurrency scheme, prominently including fraud.
He has since been transferred into the custody of the Seoul Southern District Prosecutors’ Office, which spearheads the ongoing investigation into his illicit activities.
The surge in cryptocurrency-related offenses has sparked alarm among authorities worldwide.
Figures from blockchain analysis firm Chainalysis indicate that cryptocurrency platforms suffered a staggering $2.2 billion in theft in 2024, with nefarious actors raking in an estimated $40.9 billion in ill-gotten cryptocurrency.
Last year saw a high-profile crackdown in South Korea, with over 200 individuals arrested for reportedly swindling $240 million in what is deemed the nation’s largest cryptocurrency investment scam. – BBC
