Six South Koreans arrested in the Philippines for a cryptocurrency scam that defrauded victims of over $2.9 million. The suspects face deportation and are wanted by Interpol.
Six South Koreans have been arrested in the Philippines for their alleged involvement in a large-scale cryptocurrency investment scam that defrauded hundreds of victims. The arrests were made during separate operations by local authorities, highlighting the ongoing battle against cybercrime in the region.
The Bureau of Immigration (BI) in the Philippines announced the apprehension of six South Korean nationals, identified as Ha Doogyun (25), Kin Jung Ho (25), Lee Sunyeob (25), Kim Taemin (26), Yun Songwook (22), and Park Sukil (57). The arrests took place during a raid on November 16 at their residence in Alabang, Muntinlupa City.
Authorities allege that the group was operating a fraudulent cryptocurrency investment scheme through a fake website, luring victims into investing substantial amounts of money.
Since the beginning of 2023, the scam has reportedly attracted hundreds of victims, leading to investments exceeding 4 billion won, or about $2.9 million. The fraudulent activities included:
The BI Commissioner, Joel Anthony Viado, stated that the suspects are subjects of red notices issued by Interpol due to criminal charges filed against them in Seoul. A warrant for their arrest was issued by the Seoul district court on September 14, 2023.
In a separate incident, Park Sukil was arrested on November 15 at Newport Mall in Pasay City for larceny. He is accused of stealing construction materials valued at over 2.2 million won (approximately $1,576). Notably, Sukil had previously been ordered deported in February 2015 for being classified as an undesirable alien.
All six South Koreans are currently detained at the BI warden facility in Camp Bagong Diwa, Taguig City, as they await deportation proceedings. The case underscores the increasing vigilance of authorities in combating cybercrime and protecting potential victims from fraudulent schemes.
As the investigation continues, the BI urges the public to remain cautious and report any suspicious activities related to cryptocurrency investments. The rise of digital currencies has opened new avenues for fraud, making it essential for individuals to conduct thorough research before investing their money.
