South Korean Tech CEO Arrested in $366 Million Cryptocurrency Scam

South Korean Tech CEO Arrested in $366 Million Cryptocurrency Scam

Byun Young-oh, the CEO of South Korean technology firm Wacon, has been arrested for allegedly orchestrating a $366 million cryptocurrency scam that defrauded over 500 investors. The scheme, executed through a platform named MainEthernet, reportedly involved a Ponzi-style operation, primarily targeting elderly citizens. Wacon, a company with approximately 12,000 members, is suspected of operating as a Ponzi scheme or multi-level marketing (MLM...

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