South Korean Police Uncover Cryptocurrency Investment Scam

According to PANews, South Korea's Gyeonggi Southern Police Agency's Anti-Corruption and Economic Crime Investigation Unit has announced the resolution of a fraudulent cryptocurrency investment scheme, resulting in the arrest and transfer of three suspects. The group allegedly used a worthless cryptocurrency named 'GCV (Golf Cart Victoria)' as bait, falsely claiming that purchasing the tokens would grant golf membership privileges in Asia. This deception led to 129 victims being defrauded of approximately 5.7 billion Korean won, equivalent to around 4.3 million USD. After a year-long investigation, the police successfully apprehended the suspects and gathered pertinent evidence. Authorities have stated their intention to trace the illicit gains to assist victims in recovering their losses.