Exclusive Fake it like it's 200 billion...Police track down a group of coin investment scammers

Police have launched an investigation into a group of people who lured investors to steal more than 1 billion won, saying that investing in coins that will be listed soon in stock reading rooms could make a big profit.

The Chungnam National Police Agency's Anti-Corruption and Economic Crime Unit said it has received a complaint against a group of people who committed such investment fraud.

Those who are not identified are accused of stealing 1.7 billion won over five months by enticing victim A to make a coin investment in June.

The group promoted that there were unlisted coins worth investing in in the stock reading room, luring A to a fake coin investment site, and then tricking him into continuously depositing money as if he were making a profit.

They also decorated the value of A's coin as if it had risen to KRW 225 billion, and demanded that 0.1% of the proceeds be paid as a deposit to withdraw money, but when A refused to do so, they closed the site and went into hiding.

Police are tracking leading rooms and operators of fake coin investment sites.