Of the $728,000 North Korea's asylum fraud fraud, 21 people are crypto fraud

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North Korean exiles and former soldiers are said to have scam more than 20 people and stole 1 billion wins worth $728,000.

A senior inspector said the Siheung police station had received 21 complaints in four days. He told NK News that the woman behind the scam targeted other exiles and Korean citizens and convinced them to invest in cryptocurrency platforms.

The victim raised funds for North Korean exiles

The exile who said she worked as a North Korean soldier first approached the Chinese citizens and urged others to take them to an investment scheme. North Koreans, who had lived in South Korea for at least 10 years, recruited two fellow asylums. She then began targeting Korean citizens.

Former soldier Convinced the victim to transfer funds in Korean, won her account, converted the money, and deposited it on a fake platform. The victims then invested in cryptocurrency through counterfeit apps.

At the beginning of July, the victims were unable to withdraw funds, and the counterfeit app stopped working. Two asylumni who transferred funds to the app early were able to withdraw their initial investments more than a year ago. However, other victims who participated in the investment scheme suffered a major loss after the app was frozen.

The former soldier, who was first brought to the Chinese citizens, claimed that they had suffered similar economic losses.

According to South Korean authorities, if the case goes to trial, the two asylums will be brought not only as victims but also as witnesses. This is because they are also supported by other Korean citizens’ fraud.

A few months ago, Eat Metropolitan shelf We arrested 25 individuals connected to four adjusted fake investment rings. The scammer invited investors through call centers and fake exchanges, stealing a total of over $540,000. Officials believe that more casualties are still not explained and that they continue to investigate high-level organizers.

Korean authorities have been detained for dismantling multiple fraudulent businesses across the country and scaming retail investors under the guise of “crypto advisors.”