PANews reported on August 28th that the Anti-Corruption and Economic Crime Investigation Team of the Gyeonggi Southern Police Agency in South Korea announced the crackdown on a fraudulent cryptocurrency investment scam, arresting and transferring three suspects. The ring used the fake "Golf Cart Victoria" (GCV) cryptocurrency, a worthless product, as bait, claiming that purchasing the tokens would grant golf memberships in Asia. They defrauded 129 victims of approximately 5.7 billion won (approximately $4.3 million USD). After a year of investigation, the police successfully arrested the suspect and collected relevant evidence. They said they would track the proceeds of crime to help victims recover their losses.PANews reported on August 28th that the Anti-Corruption and Economic Crime Investigation Team of the Gyeonggi Southern Police Agency in South Korea announced the crackdown on a fraudulent cryptocurrency investment scam, arresting and transferring three suspects. The ring used the fake "Golf Cart Victoria" (GCV) cryptocurrency, a worthless product, as bait, claiming that purchasing the tokens would grant golf memberships in Asia. They defrauded 129 victims of approximately 5.7 billion won (approximately $4.3 million USD). After a year of investigation, the police successfully arrested the suspect and collected relevant evidence. They said they would track the proceeds of crime to help victims recover their losses.
South Korean police crack down on $4.3 million in fake cryptocurrency investment scam
PANews reported on August 28th that the Anti-Corruption and Economic Crime Investigation Team of the Gyeonggi Southern Police Agency in South Korea announced the crackdown on a fraudulent cryptocurrency investment scam, arresting and transferring three suspects. The ring used the fake "Golf Cart Victoria" (GCV) cryptocurrency, a worthless product, as bait, claiming that purchasing the tokens would grant golf memberships in Asia. They defrauded 129 victims of approximately 5.7 billion won (approximately $4.3 million USD).
After a year of investigation, the police successfully arrested the suspect and collected relevant evidence. They said they would track the proceeds of crime to help victims recover their losses.
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