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S Korean Fraudsters ‘Impersonated Regulators to Scam Victims out of $22.7M’
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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
South Korean prosecutors have indicted a group of suspected crypto fraudsters who they say impersonated regulators to scam victims out of a total of $22.7 million.
Per Money Today, the group was allegedly masterminded by four men in their 40s.
The group appears to have attempted to dupe worried platform users into paying them $5,000 worth of the stablecoin USDT.
Prosecutors think the group operated bogus trading platforms named BISSNEX and BDCDP that posed as bona fide stock and crypto exchanges.
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