Crypto scammers were caught In South Korean

Seven South Korean people have been arrested for running a large-scale $38 million scam
22 November 2017   315

They offered to investors a regular profit at the rate of 180 percent if they have invested with bitcoin. The total number of victims is about 3900. All of them are aged 40-60 years. These criminals have created “bitcoin investment firm” in Gangnam, Seoul back in January last year. Taking advantage of the ignorance of their investors, they were able to steal money of $ 38 million.

These seven criminals were arrested by Jeonbuk Iksan police department and cybersecurity. They are accused in a lot of charges: money laundering and operating an “investment firm” without proper licensing from the South Korean financial authorities. Police first approached them when some investors called that the group obtained $4.1 million of the funds illegally instead of investing in bitcoin. After investigation the group was eventually arrested and the ponzi scheme was close up.

The group approves that they weren’t going to do this ponzi scheme. At first time they would like to make the real cripto-project and they would like to help their investors to master this market. But then they decided to abuse its clientbase by alluring investors into a scam.

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   53

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.