Crypto Scam in South Korea: 7.1 Billion Won Defrauded, Only 800 Million Won Recovered

According to Daejeon District Prosecutors' Office, a cryptocurrency fraud case involving coin 'A' resulted in 7.1 billion won in losses from investors deceived by false promises of listing on April 28, 2023. The coin had no actual trading volume and prices were artificially manipulated to appear legitimate. Prosecutors recovered only 800 million won in restitution as of June 9, 2025.
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