Multimillion Dollar Cryptocurrency Scam By Mining Max Busted In South Korea
December 22, 2017
South Korean authorities on Wednesday indicted over two dozen people associated with a cryptocurrency operation for their involvement in a multimillion dollar scam. The large-scale fraud scheme was being run by Mining Max, a cryptocurrency mining company headquartered in Las Vegas.
The suspects, which include the company’s chairman and vice chairman, as well as a Korean singer popular in the 1990s, are accused of embezzling about $250 million from 18,000 investors in 54 countries, including the United States, South Korea, China and Japan, Yonhap News Agency reported.