Cryptocurrency pyramid closed in South Korea, raising $ 40 million

Law enforcement agencies in South Korea have closed another cryptocurrency pyramid called “ETH Wallet”.She raised over $ 40 million.

As in other similar cases, the attackerslured victims with promises of high incomes. To date, 433 people have filed reports with law enforcement agencies, but South Korean police estimate the number of victims to range from 500 to 20,000 people.

According to the calculations of the police, the attackers fraudulently appropriated more than $ 40 million. However, most likely, the amount of stolen money is even greater and reaches $ 100 million.

South Korean police have already indicted threecitizens, and about a hundred people are still under investigation. The organizer of the pyramid is someone under the pseudonyms "Dakdan Sin Sensei" and "Mr. A ". Now he is on his own recognizance.

The investigation has been ongoing since January of this year, and 12June, law enforcement sent requests to two local cryptocurrency exchanges demanding transaction data. It is reported that "Mr.A" used these platforms for money laundering. It is now being investigated whether the exchanges could have been accomplices in the crime.

In January of this year, 7 years in prison wereTwo South Korean citizens were sentenced for organizing a fraudulent cryptocurrency scheme. In addition, each of them will have to pay a fine of $2 million.

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