Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Crypto Scammer's $16K Makeover Fails to Prevent Arrest in South Korea

Crypto Scammer's $16K Makeover Fails to Prevent Arrest in South Korea

Bitdegree2024/08/29 16:00
By: Written by Gode S.,
USTC-1.70%LUNC-2.13%LUNA-1.20%
Key Takeaways A crypto scammer was arrested in South Korea despite spending $16K on plastic surgery and disguises to avoid capture; The suspect allegedly defrauded investors of over $15.6M and evaded authorities for nearly ten months; Law enforcement identified and arrested him through detailed analysis of surveillance footage, phone records, and his internet search history.

A fugitive accused of orchestrating a multimillion-dollar crypto scam has been arrested despite going to extreme lengths to change his appearance with expensive plastic surgery and disguises.

The man, whose name has not been disclosed, had been on the run for nearly ten months after failing to attend a scheduled pre-trial hearing.

As reported by The Straits Times , a Singapore-based media outlet, he allegedly led a crypto scheme that defrauded investors of over 16 billion won, or about $15.6 million.

During his time on the run, he underwent extensive plastic surgery, spending around 21 million won (approximately $16,000) to change his facial features, including his eyes, nose, and overall appearance. He also used wigs to further disguise himself.

Despite these efforts, law enforcement was able to track him down by analyzing evidence such as surveillance footage, phone records, and his internet search history. This thorough investigation confirmed his identity, leading to his arrest.

This case illustrates the extreme measures some will take to avoid justice, but it also demonstrates the determination of authorities to bring such individuals to account.

In other news, Montenegro's Appellate Court confirmed on August 1 that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea .

Gode S. , Web3 Market Analyst
Gode is a Web3 Market Analyst who researches the most important industry events and interprets how they affect the wider Web3 space. Her formal education in media culture digital rhetoric allows her to employ a methodical approach to evaluating critical Web3 news data, including large-scale events and the wider social sentiment within the ecosystem.
Gode is a mutilingual professional, having studied in multiple universities all across Europe. This allows her to have a one-of-a-kind opportunity to analyze Web3 social sentiments spanning different cultures and languages and, in turn, develop a much deeper understanding of how the Web3 space is growing within different communities. With the rest of her team, Gode works to identify crucial crypto news patterns and provide unbiased and data-driven information.
Gode’s passions include working and communicating with people, and when she’s not researching Web3 news, she spends her time traveling and watching true crime documentaries.
All Expert Contributors Analysts
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitget Onchain trading system upgrade completed
Bitget Announcement2025/09/17 03:33
New spot margin trading pair — ZKC/USDT!
Bitget Announcement2025/09/16 06:28
CandyBomb x ZKC: Trade futures to share 66,666 ZKC!
Bitget Announcement2025/09/16 06:00

Trending news

More
1
Bitget Onchain trading system upgrade completed
2
Bitget Trading Club Championship (Phase 9)—Trade spot and futures to share 120,000 BGB, up to 2200 BGB per user!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$116,192.99
+0.99%
Ethereum
Ethereum
ETH
$4,500.81
+1.24%
XRP
XRP
XRP
$3.03
+0.53%
Tether USDt
Tether USDt
USDT
$1
+0.00%
BNB
BNB
BNB
$951.58
+2.93%
Solana
Solana
SOL
$235.47
+1.42%
USDC
USDC
USDC
$0.9999
+0.02%
Dogecoin
Dogecoin
DOGE
$0.2664
+2.80%
TRON
TRON
TRX
$0.3408
-0.90%
Cardano
Cardano
ADA
$0.8718
+1.33%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter