A South Korean cryptocurrency scammer’s attempt to evade justice by undergoing plastic surgery has ended in failure, marking a dramatic conclusion to a 10-month-long manhunt. The scammer, who defrauded 158 investors out of 16 billion won ($12 million) by promising 18% monthly returns on a fake cryptocurrency mining business, went to extreme lengths to alter his appearance, including surgeries on his eyes, nose, and face, as well as wearing wigs.
The scam, which ran from November 2021 to June 2022, left victims with losses ranging from 1.2 million to 250 million won. After failing to appear for a pre-trial hearing in September 2023, the scammer disappeared, relying on his altered looks to stay hidden. However, authorities used surveillance footage, phone records, and internet searches to track him down in Guri, Gyeonggi Province, in August 2024.
This case highlights the lengths some will go to for ill-gotten gains and the ultimate futility of such efforts. It also underscores the critical role of technology in law enforcement and the need for heightened investor awareness in the rapidly growing cryptocurrency space. Despite the scammer’s efforts, justice was ultimately served, reinforcing that crime, no matter how cleverly concealed, will eventually be uncovered.
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