70 billion cryptocurrency investment scams… Investigate directly with the Seoul Police Agency


© News1

The Seoul Metropolitan Police Agency decided to investigate the case where 89 victims were scammed by a US cryptocurrency investor for 70 billion won.

According to the police on the 2nd, the Seoul Metropolitan Police Agency’s Financial Crime Investigation Team takes over the case from the Seoul Bang Background Police Station and conducts an investigation into the representative of the US cryptocurrency investment company’Blockchain Terminal (BCT)’.

In December of last year, 89 victims of BCT fraud sued and accused the Seoul Central District Prosecutors’ Office of 3 people, including Boaz Manor, BCT representative and South Korean sole distributor, Shin Mo, and 8 sales agents.

The crime background police, which had been handed over by the prosecution, initiated an investigation, but the Seoul Police Agency decided to investigate the case as an important case.

Victims insist that they have invested 30 billion won in BCT cryptocurrency’BCT token’ and 40 billion won in BCT arbitrage products, but have not been able to withdraw money for the second year.

BCT has been promoting that the price of cryptocurrency varies from exchange to exchange, and that it is possible to earn high profits through the realization of arbitrage trading.

However, there have been steadily raised criticisms that BCT’s method of attracting investments in cryptocurrency disclosure (ICO) has been steadily raised, and in the process, there has also been a problem that there is no proper control mechanism. ICO refers to a method of collecting business funds by issuing cryptocurrency.

Meanwhile, BCT representatives are being investigated for investing in the U.S. for an investment fraud of about 30 million dollars (about 33.2 billion won).

BCT is known to have argued that “it is difficult to return the investment because the head office lost 90% of the cryptocurrency while seeing the hacking damage.”