Million

<p>South Korean law enforcement has successfully dismantled a major crypto mining scam that defrauded 158 victims out of $12.8 million (16 billion won). The operation, led by a man identified only by his surname Lee, involved a fraudulent virtual asset mining business that ran from November 2021 to June 2022. Lee, who went to extreme lengths to evade capture, including undergoing plastic surgery, was apprehended after a 10-month manhunt. </p> 
<p>The scam relied on a network of recruiters who convinced investors of the business's profitability, leading them to invest in the fraudulent scheme. The authorities managed to arrest all 14 individuals involved in the operation, bringing an end to one of the most elaborate crypto-related frauds in the region. This case highlights the ongoing challenges in regulating and securing the rapidly growing cryptocurrency industry, which continues to attract both legitimate businesses and fraudulent schemes.</p>

South Korean Authorities Arrest 14 in $12.8 Million Crypto Mining Scam

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