A police spokesperson said the duo gave the victim 4,200 50,000 won bills.
However, the alleged victim later inspected the banknotes and realized that many of them appeared to have the serial number.
The crypto trader reported this to the police. Officers arrested the duo on a street in the Yeoksam neighborhood “around noon” on the same day.
Officers said they are investigating to establish if the arrestees made the notes themselves. They are also looking into “other people” they think may be involved.
At least one of the suspects is aged in their 20s, officers told members of the press on September 16.
Gangnam Crackdown?
The Gangnam District is the home of the South Korean crypto industry. Most of the nation’s biggest crypto exchanges and blockchain firms are based in the district.
South Korea’s top financial regulator said it plans to lift the ban on short selling at the end of March and will ensure that necessary rule revisions are in place by then. https://t.co/Geeq0T1dGe
— Bloomberg (@business) September 12, 2024
Many of the country’s most prolific crypto traders are also based in the area. And this has reportedly given rise to uncontrolled OTC crypto trades.
Yoo Sung-hyun, a manager at a Gangnam-based IT firm, told Cryptonews.com:
“More people are talking about crypto and Bitcoin (BTC) in this area recently. That hasn’t really been the case for a few years.”