South Korean police crack down on $4.3 million in fake cryptocurrency investment scam

According to South Korean media reports, the Anti-Corruption and Economic Crime Investigation Team of the Gyeonggi Southern Police Agency announced the crackdown on a fraudulent cryptocurrency investment scam, arresting and transferring three suspects. The ring used the faux cryptocurrency "GCV" (Golf Cart Victoria) as bait, claiming that purchasing the tokens would grant golf memberships across Asia. They lured 129 victims out of approximately 5.7 billion won (approximately $4.3 million). After a year-long investigation, police successfully apprehended the suspects and collected relevant evidence. They stated they will track the proceeds of the crime and help victims recover their losses.