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South Korea: Littering leads to arrest of cryptocurrency scam fugitive South Korea: Littering leads to arrest of cryptocurrency scam fugitive
(about 2 hours later)
The man allegedly defrauded 17.7 billion won ($13m; £9.5m) from 1,300 peopleThe man allegedly defrauded 17.7 billion won ($13m; £9.5m) from 1,300 people
An alleged cryptocurrency scammer's five years on the run ended after he was arrested for littering near a train station in Seoul, police said Friday.An alleged cryptocurrency scammer's five years on the run ended after he was arrested for littering near a train station in Seoul, police said Friday.
Police said they only intended to arrest the man for throwing a cigarette butt, but they got suspicious when he begged them to let him go "just this once" and tried to escape.Police said they only intended to arrest the man for throwing a cigarette butt, but they got suspicious when he begged them to let him go "just this once" and tried to escape.
The man also refused to show his ID, pretended to take a phone call and offered police money in exchange for letting him go.The man also refused to show his ID, pretended to take a phone call and offered police money in exchange for letting him go.
Upon questioning, police found that he was wanted for allegedly defrauding 17.7 billion won ($13m; £9.5m) from 1,300 people through a cryptocurrency scam.Upon questioning, police found that he was wanted for allegedly defrauding 17.7 billion won ($13m; £9.5m) from 1,300 people through a cryptocurrency scam.
The man, who is in his 60, was identified in local media reports only by his surname, A. The man, who is in his 60s, has a standing arrest warrant for 10 charges relating to the alleged cryptocurrency scam, including fraud.
He has a standing arrest warrast for 10 charges relating to the alleged cryptocurrency scam, including fraud.
The man has since been handed over to the Seoul Southern District Prosecutors' Office, which has been leading the investigation against him.The man has since been handed over to the Seoul Southern District Prosecutors' Office, which has been leading the investigation against him.
Rising cryptocurrency-related crimes have prompted concern from governments across the world.Rising cryptocurrency-related crimes have prompted concern from governments across the world.
According to blockchain analytics firm Chainalysis, cryptocurrency platforms lost $2.2bn to theft in 2024, while illicit actors received an estimated $40.9bn in cryptocurrency.According to blockchain analytics firm Chainalysis, cryptocurrency platforms lost $2.2bn to theft in 2024, while illicit actors received an estimated $40.9bn in cryptocurrency.
Last year, South Korean police arrested more than 200 people for allegedly stealing $240m - in what is believed to be the country's largest cryptocurrency investment scam.Last year, South Korean police arrested more than 200 people for allegedly stealing $240m - in what is believed to be the country's largest cryptocurrency investment scam.
Additional reporting by Hosu Lee in SeoulAdditional reporting by Hosu Lee in Seoul