A South Korean man suspected of a $12 million cryptocurrency scam was arrested after evading capture for 10 months by undergoing plastic surgery

According to ChainCatcher, South Korean police arrested a man in his 40s in August 2024, who is suspected of orchestrating a major cryptocurrency scam that defrauded 158 investors of a total of 16 billion won (approximately 12 million USD).

It is reported that the scam activity lasted from November 2021 to June 2022, with the suspect using a fake cryptocurrency mining business as a front, promising investors a monthly return rate of 18%. Victims suffered personal losses ranging from 1.2 million won to 250 million won. After failing to attend a preliminary hearing in September 2023, the suspect evaded capture for 10 months by spending about 21 million won on eye, nose, and facial contour surgeries, and wearing a wig to change his appearance. Ultimately, the police successfully apprehended him through clues such as surveillance footage, phone records, and internet search history.