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Investors Defrauded by South Korean Pyramid Scheme By Cointelegraph


Investors Defrauded by South Korean Pyramid Scheme

South Korean authorities are investigating a complaint filed by 950 investors who claim to be victims of a crypto-related ponzi scheme.

According to TV Chosun, police are looking into reports that over 160 individuals are believed to have operated the alleged scam, known as Futurenet. The Futurenet team is also suspected of stealing almost 20 billion won ($16.66 million) from investors and transferring the money via cryptocurrency.

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Read More: Investors Defrauded by South Korean Pyramid Scheme By Cointelegraph