Attempted virtual asset scam targeting Korean businessman in Taiwan... Six members arrested

In Taiwan, a group posing as sellers of cryptocurrency and other valuables worth tens of millions of won to a Korean businessman has been apprehended.

According to the Central News Agency (CNA) and the Liberty Times in Taiwan on the 20th, a group led by Mr. Lu (33), who deceived Korean national businessman Mr. Lee by pretending to sell cryptocurrency and expensive watches, was caught by the Taiwanese police and handed over to authorities.

Mr. Lee saw a Facebook post in April advertising the sale of Tether (USDT) cryptocurrency and luxury watches and arranged to meet a contact at a café in Taipei, Taiwan. He took a briefcase containing 1.5 million TWD (approx. ₩6,934,000) and a backpack with 500,000 TWD (approx. ₩2,311,000) to the meeting location.

Later, after getting into a car with Mr. Lu's group, Mr. Lee realized it was a scam and jumped out of the car. However, during this process, his backpack was snagged, and the group stole the 500,000 TWD.

Mr. Lee reported the incident to the police, who identified all six members of the fraud ring and arrested them in succession. The ringleader, Mr. Lu, was detained on charges of fraud and violating anti-money laundering laws. The other five were released on bail after paying 30,000–50,000 TWD each.

The whereabouts of the backpack containing 500,000 TWD stolen from Mr. Lee have not been confirmed. The authorities have confiscated 90,000 TWD (approx. ₩415,000), mobile phones, bankbooks, and cards from the suspects.

According to local media, police investigations found that Mr. Lee had been visiting Taiwan for an extended period under the guise of tourism.

Shin Yong-hyun, Hankyung.com reporter yonghyun@hankyung.com