Authorities in South Korea have arrested 215 individuals in connection with a cryptocurrency fraud scheme, which impacted over 15,000 victims and led to losses exceeding $232 million. The scammers, operating through fake investment consultancy firms, promised unrealistic monthly gains of up to 20% to investors. The police seized $234 million and 22 Bitcoins from the operation, and also apprehended the mastermind of the scam. This case highlights the need for increased regulation in cryptocurrency trading and the importance of investor education.



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