"YouTuber Who Claimed to Make 2.5 Billion Won in 8 Months with Cryptocurrency Was Actually a Part-Timer"

A YouTuber claims to have earned billions through a virtual cryptocurrency exchange in a video. Photo by MBC

[Asia Economy Reporter Kim Choyoung] As YouTube videos claiming to have made large sums of money in a short period through cryptocurrency investments rapidly increase, it has been revealed that a part-time worker was paid to post false videos to induce investments in a specific exchange site, sparking controversy.

According to an MBC report on the 15th, they misled viewers with statements such as "The cryptocurrency exchange gives 0.5% interest every 8 hours" and "The profit earned over 8 months reaches 2.5 billion won," then provided detailed deposit methods to encourage investments.

Victims who watched the videos immediately invested in the exchange, but since the 10th, they experienced issues such as being unable to access the site. During this time, a part-time worker confessed, "I did this on the day I received the part-time pay," revealing that the exchange had committed a so-called 'meoktwi'?closing down without returning the money. It is estimated that there are at least 1,000 victims and the damage amounts to hundreds of billions of won.

The victims have filed complaints with the prosecution and also submitted grievances to the Financial Supervisory Service. However, it has been confirmed that the exchange site, after closure, is operating as another cryptocurrency exchange, raising concerns that the damage may be repeated.

According to the Ministry of Science and ICT, the number of cryptocurrency-related crime cases detected in the past three months is 32, approaching the 41 cases that occurred throughout last year.