Prosecutors indict developer of crypto fraud website for defrauding 800 million won

[Financial News] A man in his 30s who developed a cryptocurrency fraud website and took about 800 million won has been indicted and detained.
According to the legal community on the 9th, Criminal Division 3 of the Seoul Northern District Prosecutors' Office, led by chief prosecutor Park In-woo, on the 6th indicted a 34-year-old man, identified only by his surname A, on charges including fraud for developing a cryptocurrency scam website and defrauding more than 800 million won.
Prosecutors stated that around March last year, A created a fraudulent cryptocurrency staking product website and is accused of obtaining about 800 million won from victims.
He was initially referred to prosecutors without detention on charges of aiding and abetting fraud. However, prosecutors concluded that he should be punished as a co-principal offender. They shared investigative findings with the police and, after a supplementary investigation to substantiate additional charges, indicted him under detention.
A prosecution official stated, "We will continue to work closely with the police and do our utmost to uncover the truth."
jyseo@fnnews.com Reporter Seo Ji-yoon Reporter