Recently, South Korean police detained two people who were in their 20s and 30s. Their arrest was prompted by allegations that they had defrauded an elderly person of $4.1 million by promising them large profits on cryptocurrency investments.
Following the report the scammers had enticed the victim between September and December 2022, guaranteeing a staggering 70% profit on a monthly investment of 1 billion won.
The victim made six separate payments totaling 5.5 billion won, while the fraudsters presented fake balance certificates and manipulated spreadsheets to show non-existent returns.
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