South Korean Loses Bitcoins in 2 Mln Fiat Fraud

Cover image via U.Today

The victim is a South Korean businessman, whose Singapore-based company deals with electronic assets accepted an offer to sell his BTC through a P2P exchange. However, the buyer suggested paying in cash and handing it over personally in a hotel in Nice, France.

The banknotes the businessman received were fake but he had already made the transaction.

The victim came to the police in late July. The Serbian criminal was detained soon. He was already spending the money by living in a luxurious hotel, driving a top-notch car and wearing an expensive watch.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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