The police have requested arrest warrants for a group involved in handing over counterfeit bills worth around 200 million won in exchange for cryptocurrency transaction funds.
On the 16th, the Gangnam Police Station in Seoul announced that they had applied for arrest warrants for two men in their 20s suspected of fraud and currency counterfeiting.
According to the police, victim A met suspect B at a restaurant in Nonhyeon-dong, Gangnam-gu, Seoul, around 3 a.m. the previous day to dispose of cryptocurrency. A received a bag containing 4,200 50,000-won bills from B and handed over cryptocurrency worth about 300 million won.
A realized that all the 50,000-won bills in the bag had the same serial number and were counterfeit, and caught B as he tried to flee, then reported to the police. During the investigation, B reportedly stated that he was acting under the instructions of C. The police arrested C around noon the same day at a location in Yeoksam-dong, Gangnam-gu, Seoul.
The police are currently investigating B and C regarding the detailed circumstances of the counterfeit bill production process and the case.
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