Crypto Fugitive Arrested in Seoul Over Major Fraud Scheme

A man in his 60s, identified only by his surname ‘A’, has been apprehended in Seoul for orchestrating a cryptocurrency scam that defrauded over 1,300 individuals of 17.7 billion won. Authorities arrested him after he exhibited suspicious behavior when disposing of a cigarette butt, leading to the discovery of his fugitive status. The individual was on the run since 2020 and faced ten criminal charges, including fraud and assault. This arrest underscores ongoing efforts to combat cryptocurrency fraud within Korea while avoiding significant market disruptions.