South Korean Crypto Scammer Arrested After Using Plastic Surgery to Evade Capture

South Korean police have arrested a man in his 40s who orchestrated a cryptocurrency scam defrauding 158 investors of approximately 16 billion won (about $12.8 million). To evade capture, the suspect underwent extensive plastic surgery and used various disguises to change his appearance. After a 10-month manhunt involving surveillance and internet tracking, he was apprehended in August 2024 in Guri, Gyeonggi Province.

A South Korean man in his 40s orchestrated a crypto scam, defrauding 158 investors out of $12.8 million. He evaded arrest for nearly a year by undergoing plastic surgery and using disguises but was eventually captured after a 10-month manhunt. If you are interested in learning more about investment scams, we have a dedicated page right here. The case highlights the lengths to which fraudsters will go to evade justice and the intensive efforts required by law enforcement to apprehend them.

• Defendant:
  A man in his 40s, referred to as "A," arrested in South Korea for crypto-related fraud. As per the cryptonews [1] article, his last name may be 'Kim'
• Crime:
  Fraudulent cryptocurrency investment solicitation promising an 18% monthly return in a non-existent crypto mining business.
• Amount Defrauded:
  Approximately 16 billion won ($12.8 million).
• Method:
  Used investor funds to finance personal expenditures and support other illicit activities. Attempted to evade law enforcement by altering his physical appearance through plastic surgery.
• Sentence:
  The suspect is currently under investigation, with charges filed for crypto fraud. Specific sentencing details are pending further court proceedings.
• Additional Penalties:
  Confiscation of 1.3 billion KRW ($976,000 USD) in assets, including cash and property, from the suspect and his accomplices.
• Investigation Authorities:
  The Seoul Metropolitan Police Agency and South Korean prosecutors are handling the case.
• Plea:
  The defendant has not yet entered a plea.
• Prosecutor's Statement:
  Highlighted the extensive efforts and resources spent by the defendant to evade justice, including altering his appearance and using disguises.

The scam ran from November 2021 to June 2022, during which the suspect defrauded investors by promising them high returns from a fraudulent cryptocurrency mining scheme. After failing to appear at a pre-trial hearing in September 2023, an arrest warrant was issued. The suspect managed to evade capture for nearly a year by undergoing plastic surgery in September 2023. In August 2024, after a 10-month manhunt, he was arrested in his hideout in Guri, Gyeonggi Province.

This case involves a South Korean man in his 40s who defrauded 158 investors out of 16 billion won ($12.8 million) through a fake cryptocurrency mining operation. Promising an 18% monthly return, the scam ran from November 2021 to June 2022. After being issued an arrest warrant in September 2023 for failing to attend a pre-trial hearing, the suspect evaded capture for nearly a year by undergoing plastic surgery and using various disguises. His efforts to avoid detection were eventually thwarted by South Korean police through extensive surveillance, phone records, and internet search histories. The suspect's arrest in August 2024 brought an end to a prolonged manhunt. The legal proceedings against him and his accomplices are ongoing, with significant assets already seized by authorities.