South Korean police bust crypto scammer who received plastic surgery to evade arrest

Photo of a man in his 40s at the time of his arrest (left) and cash found at at his hideout. - Photo: Seoul Metropolitan Police Agency

SEOUL: South Korean police said Thursday (Aug 29) that they have arrested the leader of a cryptocurrency scam operation that defrauded investors of 16 billion won (US$12 million) and who even underwent plastic surgery to avoid capture.

The man, in his 40s, was apprehended earlier this month for deceiving 158 victims between November 2021 and June 2022 by promising a monthly return of 18 percent on investments in a so-called cryptocurrency mining business, according to the Seoul Metropolitan Police Agency.