Cryptocurrency Fraudster Undergoes Plastic Surgery to Evade Arrest in South Korea

South Korean police have apprehended the leader of a fraudulent scheme who embezzled 16 billion won ($12 million) from clients under the guise of cryptocurrency investments, according to local media.

Investigators report that the 40-year-old suspect promoted a company purportedly involved in cryptocurrency mining from November 2021 to June 2022. He promised clients a monthly return of 18% on their investments. Consequently, 158 victims lost between 1.2 million and 250 million won ($900-18,700).

In September 2023, the individual failed to appear at a preliminary hearing. To evade arrest, he underwent plastic surgery costing 21 million won (over $15,000) and went on the run. 

Authorities located him in the city of Guri, Gyeonggi Province, using surveillance cameras, phone records, and internet search history.

The investigation is ongoing.

Earlier, ForkLog reported that Lee Hyun-soo, CEO of the South Korean cryptocurrency investment platform Haru Invest, accused of embezzling approximately $826 million from clients, was attacked in a courtroom.