Fraudulent Duo Targets Elderly Victim
South Korean police have arrested two individuals accused of defrauding an elderly man of $4.1 million in a crypto-based scam. The suspects, a young duo in their 20s and 30s, promised the victim massive returns on his investment.
Promises of 70% Return
One of the suspects claimed, “If you invest 1 billion won, it will be 1.7 billion won a month later.” The victim believed the promises and handed over the funds.
Fake Certificates Forged
The suspects then allegedly forged fake certificates showing the victim’s investment had grown to $20 million. However, the police confirmed that the initial investment had never been made.
Montenegro Extradites Do Kwon
In a separate development, the Supreme Court of Montenegro has postponed the extradition of Terra (LUNA) founder Do Kwon to South Korea. Kwon is wanted for alleged crimes related to the collapse of the Terra ecosystem in 2022.
