South Korea's black market for forged documents exposed: "Graduation from a prestigious university" can be obtained for as little as $200 in cryptocurrency.

CoinFeed reported on April 19th that, according to South Korean media HeraldCorp, a black market for counterfeit documents has emerged in South Korea, offering various fake official documents, including diplomas from prestigious universities. For approximately $200 worth of cryptocurrency, one can obtain a diploma that closely resembles an authentic Yonsei University certificate. Those involved solicit clients through channels such as Telegram, promising to provide proof of enrollment, diplomas, and other materials, delivered within hours. They prioritize accepting cryptocurrency or digital gift cards to circumvent the regulatory risks associated with bank transfers. The counterfeit documents also include driver's licenses, proof of kinship, certificates of no criminal record, and loan documents. South Korean police stated that the number of counterfeit cases has increased significantly in recent years, with arrests nearly doubling between 2021 and 2023, but many cases remain undetected.