Sat, May 25, 2024 at 15:07

  • 썸네일

    Kang-hoon

    • Hello, Annie.

    • Today, I have some alarming news about a recent crypto scam in South Korea.

    • On May 21st, the Daegu Police Agency arrested 19 individuals linked to a deceptive crypto reading room.

    • 썸네일
  • Annie

    • Oh no, that sounds serious!😲 What exactly did they do?

    썸네일
  • 썸네일

    Kang-hoon

    • The scam involved an open chat room, likely on platforms like Telegram or KakaoTalk, where gang members posed as seasoned crypto experts.

    • They provided seemingly valuable trading tips and boasted about substantial returns to lure in unsuspecting investors.

  • Annie

    • So they were pretending to be experts?

    • That's terrible!

    • How many people fell for this?

    썸네일
  • ADward

    • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

    썸네일
  • 썸네일

    Kang-hoon

    • Yes, they managed to deceive over 300 investors, swindling them out of a staggering $19 million.

    • 썸네일
    • The victims were led to download apps connected to bogus crypto exchanges, which further fueled the illusion of exclusivity and potential profit.

  • Annie

    • Wow, $19 million!😱 How did they convince people to invest so much?

    썸네일
  • 썸네일

    Kang-hoon

    • The scam was meticulously crafted.

    • Initially, they allowed victims to make small gains, which emboldened them to invest larger sums.

    • However, when victims tried to withdraw their funds, they were met with fabricated withdrawal fees.

    • Refusal to pay these fees resulted in the gang severing all communication.

  • Annie

    • That's so cruel!😡 Did they use any other tactics to trap people?

    썸네일
  • 썸네일

    Kang-hoon

    • Indeed, they employed a particularly disturbing tactic called 'pig-butchering.'

    • The ringleader promised unsuspecting individuals lucrative job opportunities in Myanmar.

    • Upon arrival, their passports and phones were confiscated, and they were forced to join the fraudulent operation.

  • Annie

    • That's horrifying!😨 How did the authorities finally catch them?

    썸네일
  • 썸네일

    Kang-hoon

    • The Daegu Police Agency conducted a raid on May 21st, which exposed the entire operation.

    • The international reach of this criminal network and their exploitation tactics were revealed during the investigation.

  • Annie

    • It's good that they were caught, but this shows how dangerous the crypto world can be.

    • Do you think this will lead to stricter regulations?

    썸네일
  • 썸네일

    Kang-hoon

    • Absolutely, Annie.

    • This case underscores the urgent need for stricter regulations in the cryptocurrency space.

    • South Korea, being a hotbed for crypto activity, has seen a surge in social media-driven scams.

    • Experts believe this incident may catalyze the government to implement stricter controls on both crypto platforms and social media groups offering investment advice.

  • Annie

    • I hope so.

    • Do you think this news is good or bad for the market?

    썸네일
  • 썸네일

    Kang-hoon

    • Unfortunately, I would categorize this as bad news.

    • While the arrests are a positive step, the revelation of such a sophisticated scam can shake investor confidence.

    • It highlights the vulnerabilities in the current system and may lead to short-term market instability.

    • Upon comprehensive consideration, this news is perceived as a 😱Bearish.