South Korean court jails three crypto scammers for $416K fraud scheme

On Monday, March 31, 2025, the tribunal in Nancy rendered its deliberations in the Red Card case, a vast diamond and cryptocurrency scam involving a thousand victims, including football clubs. He sentenced up to eight years in prison against 20 people, and released two of them.

A criminal, who offered imported products and never delivered them, was arrested by the City Police.The suspect operated cryptocurrencies and would have scammed nearly 200 people, a situation that caused an economic damage of $10 million.According to News Argentinas agency, the investigation began in January, conducted by the Special Technology Research Division, under the supervision of the Cybercrime Superintendency, following a complaint that…

South Korea Sentences Crypto Fraudsters to Prison

The three men, convicted under the Act on the Aggravated Punishment of Specific Economic Crimes, deceived victims with the promise of high returns, claiming they could select 1,000 top-tier cryptocurrencies worldwide and generate monthly profits as high as 30%. However, it was later revealed that the so-called “proprietary trading algorithm” they touted was nothing more than a façade, with the money instead being misappropriated for personal gai…

South Korean crypto scammer jailed for $460,000 Crypto Fraud

Three South Koreans were jailed for a 610 million won ($460,000) crypto scam, with the leader sentenced to 4.5 years. They promised 30% monthly returns from 1,000 cryptocurrencies but stole the money instead. South Korea is cracking down on crypto fraud by arresting scammers and blocking unregistered exchanges. Scam Took Investors’ Money A South Korean court has sentenced three people to prison for crypto scam investors out of 610 million won (a…

40,000,000 XRP Withdrawal Stuns Top South Korean Exchange

Massive XRP stash moved out of second largest exchange in South Korea

South Korea’s Court Sentences Three Cryptocurrency Scammers to Prison for $416K Fraud

South Korea’s district court has sentenced three men for orchestrating a $416K crypto fraud scheme. South Korea’s 610…