South Korean Police Arrest 25 in Crackdown on Crypto Scam Rings

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-15 08:18:01

South Korean authorities have dismantled a sophisticated cryptocurrency investment fraud operation, arresting 25 individuals linked to four criminal organizations. The scam, which ran from June 2023 to April 2025, involved fake call centers posing as legitimate financial advisory services. Victims were lured with promises of high returns by fraudsters impersonating crypto investment professionals.

The perpetrators deceived at least 48 individuals, resulting in collective losses of 734 million won ($540,000 USD). Victims were directed to register on counterfeit cryptocurrency exchanges under false pretenses. The Jeju Metropolitan Police Agency confirmed the arrests following a coordinated investigation.

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