South Korea Police Arrest 215 in $232M Crypto Scam

Quick Summary:

South Korean police have apprehended 215 individuals tied to a large-scale cryptocurrency investment scam, responsible for defrauding over 15,000 people and causing losses of 325.6 billion won ($232 million).

The group listed the tokens on foreign exchanges through brokers, while market-making teams artificially inflated prices to deceive investors further.

The scam involved 28 different tokens, six of which were created and manipulated by the ringleader and his associates.

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Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab EmiratesAustraliaHong KongSouth KoreaSingapore

Topics: Cryptocurrency Latest News Scam

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-13 @ 12:24:39 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 322 words

Reading Time: 2 minutes read

Sentences: 23 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23572771

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 6 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 11 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #125

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