- A crypto scammer has been arrested in South Korea despite conducting plastic surgery
- The scammer had also started wearing wigs to further change his physical appearance
- The scammer had been on the run for 10 months
South Korean authorities have arrested a crypto scammer who had changed his physical appearance using plastic surgery. The scammer had also started wearing wigs to further conceal his identity. The culprit has been on the run for roughly 10 months and is accused of obtaining more than $15 million through malicious means, an indication that South Korean authorities are committed to protecting crypto investors from malicious actors.
The Police Relied on Internet Search Records
According to a report by The Stratis Times, the scammer was wanted by the police after failing to attend a pre-trial hearing in September last year. Reports indicate that the culprit conducted plastic surgery to change physical features like his nose and the shape of his face.
The artificial changes are estimated to cost him roughly $16,000. South Korean authorities relied on the scammers’ internet search records, and surveillance footage, among other techniques to nab the unnamed individual despite physically altering his appearance.
Reports indicate that the culprit scammed close to 160 victims whom he told investors that he was putting the funds into a crypto mining business and promised an ROI of 18%.
Haru CEO Hugo Lee Stabbed at Trial
The arrest comes a day after Haru CEO Hugo Lee was stabbed by an alleged former customer while attending his trial in a South Korean court. The CEO is accused of running a scam that siphoned roughly $750 million. Lee and his firm promised an ROI of up to 14%.
The arrest also comes barely a month after the Appellate Court of Montenegro ruled that Terraform Labs co-founder Do Kwon should be extradited to South Korea and not the United States.
With South Korea successfully hunting down the crypto scammer despite physically altering his face, malicious actors in the crypto space will likely reduce their activities in South Korea.
