Police Officers Among 16 Suspects in Cryptocurrency Mining Fraud, Victims Totaling 2.7 Billion KRW

Sixteen individuals, including an active police officer, are under investigation for allegedly defrauding investors of 2.7 billion KRW through a cryptocurrency mining scheme. So far, 17 victims have been identified. The Southern Gyeonggi Police Agency's Anti-Corruption and Economic Crime Investigation Unit has charged the suspects, including Officer A, with violations of the Act on the Aggravated Punishment of Specific Economic Crimes (Fraud) and the Act on the Regulation of Visiting Sales. They are accused of soliciting investments by promoting the mining business as a way to earn large sums of money. The police began their investigation after receiving the first complaint in May 2024 and are expanding their inquiry following additional complaints from victims. The total amount defrauded is 2.7 billion KRW, and the charges against the suspects and the final amount of losses may change based on the investigation results. The police are currently investigating Officer A's involvement and specific role while he is suspended from duty, and they will also look into the possibility of additional accomplices and the flow of criminal proceeds.

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