S Korean Police Shut Down $472,000 Group Chat-based Crypto Fraudsters
Source: Ant/Adobe South Korean police say they have arrested the ringleaders of a $472,000 crypto fraud gang that made use of the group chat function on a social media app to lure in unsuspecting victims. MBN Money reported that the Incheon Metropolitan Police Agency explained that it had arrested three men in their 20s, including a 26-year-old man, on fraud-related charges. At least 10 other people are also being questioned in connection with the incident. Officers say that the gang created a group chat room on a social media platform. They allegedly called the group the “Investment Reading Room” and managed to lure a number of unsuspecting crypto-curious social media users to join. The police explained that the alleged masterminds sought to “ deceive&rdquo ; members of the chat by enlisting “fake investors” to join the group. These individuals “pretended to be professional investment advisors” or people who had made massive...