$12.1M fraud suspect with ‘new face’ arrested, crypto scam boiler rooms busted: Asia Express
A brand new facial reconstruction can’t hide crypto scammer, crypto scam boiler rooms in Malaysia and the Philippines busted: Asia Express
Our weekly roundup of news from Asia curates the industrys most important developments.
South Korean police have apprehended 14 individuals involved in a fraudulent crypto mining scheme that pocketed 16 billion Korean won (about $12.1 million), according to reports citing an Aug. 29 press conference.
Police identified the scheme’s mastermind only as “Mr. A,” (a common practice for suspects before official conviction.) From November 2021 to June 2022, Mr. A allegedly deceived victims by promising an 18% monthly return on investments in the fake crypto mining business.
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Author: Yohan Yun
