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An alleged cryptocurrency scammer’s five years on the run ended after he was arrested for littering near a train station in Seoul, police said Friday.<\/p>\n
Police said they only intended to arrest the man for throwing a cigarette butt, but they got suspicious when he begged them to let him go “just this once” and tried to escape.<\/p>\n
The man also refused to show his ID, pretended to take a phone call and offered police money in exchange for letting him go.<\/p>\n
Upon questioning, police found that he was wanted for allegedly defrauding 17.7 billion won ($13m; \u00a39.5m) from 1,300 people through a cryptocurrency scam.<\/p>\n<\/div>\n
The man, who is in his 60, was identified in local media reports only by his surname, A.<\/p>\n
He has a standing arrest warrast for 10 charges relating to the alleged cryptocurrency scam, including fraud.<\/p>\n
The man has since been handed over to the Seoul Southern District Prosecutors’ Office, which has been leading the investigation against him.<\/p>\n
Rising cryptocurrency-related crimes have prompted concern from governments across the world.<\/p>\n
According to blockchain analytics firm Chainalysis, cryptocurrency platforms lost $2.2bn to theft in 2024, while illicit actors received an estimated $40.9bn in cryptocurrency. <\/p>\n
Last year, South Korean police arrested more than 200 people for allegedly stealing $240m – in what is believed to be the country’s largest cryptocurrency investment scam.<\/p>\n
Additional reporting by Hosu Lee in Seoul<\/i><\/p>\n<\/div>\n