Crypto YouTuber Among Those Arrested for Allegedly Running $231,000,000 Fraud in Korea: Report
South Korean authorities have reportedly arrested 215 individuals who are allegedly behind a cryptocurrency investment scam that defrauded thousands of victims.
Yonhap News reports that the suspected perpetrators, including a YouTuber with 620,000 subscribers, received 325.6 billion won, or around $231 million, from 15,304 people who were enticed to invest their money in crypto for high returns.
The YouTuber, identified only as Mr. A, and his cohorts are accused of operating fake investment consulting firms. They allegedly told the victims that they could gain profits 20 times their investments.
Most of the victims are middle-aged and elderly who were allegedly advised to sell their apartments or get a loan to buy crypto….
