A man wanted in connection with a massive cryptocurrency fraud has been caught in Seoul after police stopped him for littering outside a train station.
Officers said they first approached the man, in his 60s, for discarding a cigarette butt. Their suspicions grew when he pleaded for leniency, refused to show identification, and tried to bribe them before attempting to run.
Checks revealed he was the subject of an outstanding warrant tied to an alleged scheme that defrauded 1,300 people of 17.7 billion won. He faces 10 charges, including fraud, and has been transferred to the Seoul Southern District Prosecutors’ Office.
Growing concerns over crypto scams
The case comes amid increasing scrutiny of cryptocurrency-related crime. Data from Chainalysis shows crypto platforms lost $2.2bn to theft in 2024, with illicit actors receiving more than $40.9bn worth overall.
In South Korea, police reported the arrest of over 200 suspects last year linked to a $240m investment fraud, which authorities called the country’s largest crypto scam.
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