South Korean police have cracked a GCV virtual coin fraud case involving an amount of 4.3 million dollars.

2025-08-28 03:22:26

[Chain News] PANews, August 28 - According to South Korean media reports, the Anti-Corruption and Economic Crime Investigation Team of the Gyeonggi Southern Provincial Police Agency announced the resolution of a fraudulent investment case involving fake crypto assets, resulting in the arrest and transfer of three suspects. The gang used a worthless “GCV (Golf Cart Victoria)” fake crypto asset as bait, claiming that purchasing tokens could obtain golf membership qualifications in Asia, deceiving 129 victims and defrauding a total of about 5.7 billion KRW (approximately 4.3 million USD). After a year-long investigation, the police successfully apprehended the suspects and collected relevant evidence, stating that they will trace the criminal proceeds to help the victims recover their losses.

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