[Exclusive] YouTube Ad Hits 10 Million Views... Man Who Created Fake Coin Gift Site Faces Trial

On the 30th, the Daegu District Court is scheduled to hold the first trial of Mr. A, who is accused of aiding and abetting fraud, on September 6. Mr. A developed a cryptocurrency futures trading site on YouTube that recorded 10 million views and caused many victims.
/Source = YouTube

[Asia Economy Reporter Gong Byung-sun] A developer who created a fake cryptocurrency futures trading site is set to face criminal trial on charges of aiding and abetting a large-scale investment fraud. The site's YouTube advertisement surpassed 10 million views, with around 900 victims reported and the total damage estimated to reach several billion won.

On the 30th, Daegu District Court announced that the first trial of Mr. A, accused of aiding and abetting fraud, will be held on September 6. Police across the country received reports of damages related to cryptocurrency side-job advertisements, and the Daegu Nambu Police Station was in charge of the investigation. Earlier this month, the Daegu Nambu Police Station identified Mr. A as a suspect and sent him to the prosecution for detention.

Since last year, Mr. A and his accomplices have aggressively promoted the cryptocurrency futures trading site on YouTube. The video ads had titles such as "Is there someone who makes money without doing anything?" to lure victims. They targeted investors who wanted to take cryptocurrency investment as a side job or those unfamiliar with cryptocurrency investment methods. The videos exceeded 10 million views.

The company promoted that it had converted the investment methods of 30 coin experts into an AI-based program, ensuring that investors would never lose their funds. Initially, when cash was deposited, profits were made. However, within less than five minutes, investors lost even their principal, and the company encouraged victims to invest larger amounts. Mr. A, who developed such a program, is accused of maintaining the site and continuously attracting investors. It is also reported that when victims complained about the fraud on YouTube, the company managed public opinion by deleting such comments.

It is known that about 900 investors suffered damages from this company. The damage amounts vary from as little as 1 million won to as much as 20 million won, with the total damage expected to reach at least several billion won.