Scamcoin 'Queen B' Operator Who Received 15 Billion Won from 9,000 Investors Arrested
CryptoNewsTerminal Staff07 Aug, 2024
Scamcoin 'Queen B' Operator Who Received 15 Billion Won from 9,000 Investors Arrested
The Seoul Southern District Prosecutors' Office's Joint Investigation Team for Virtual Asset Crimes has arrested individual "A" on charges of embezzling 15 billion won from investors using a scamcoin that featured a famous actor. "A," who is a specialist in handling scamcoins, colluded with the issuer of Queen B Coin from January to April 2021 to swindle 15 billion won from 9,000 coin investors through false disclosures and price manipulation. The arrest of "A" is a significant development in the crackdown on scamcoins in South Korea. The authorities are taking a tough stance against those who are involved in such fraudulent activities and are determined to protect investors from financial losses.
