Crypto Scam South Korea: Key Figure Extradited, Over $236 Million Stolen

South Korean authorities have apprehended a key figure in a massive cryptocurrency scam that left over 15,000 investors out of pocket. The ringleader was extradited from abroad after evading capture for two years, highlighting the ongoing challenge of combating sophisticated financial crime in the crypto market. 325.6 billion won – roughly $236.67 million USD – were stolen through this scheme that ran from December 2021 to March 2023. The fraudulent group used a Ponzi-like model, promising unrealistic returns on investments across multiple cryptocurrencies.