The financial crimes investigation unit of the South Korean Seoul Metropolitan Police Agency has arrested 14 individuals in connection with a $12.8 million (16 billion won) cryptocurrency mining scam.

The mastermind, surnamed Lee, took many elaborate measures to avoid detection, including undergoing plastic surgery to change his appearance.

Lee, a man in his 40s, organized a virtual asset mining scam that caused losses to 158 victims between November 2021 and June 2022. According to authorities, Lee misappropriated 4.5 billion won (US$3.6 million) of the 16 billion won he collected. To maintain the appearance of legitimacy, Lee recruited a network of recruiters, including four heads and four mid-level agents, to convince victims of the business's profitability.

The scam was discovered in July 2022, leading the Seoul Metropolitan Police Agency to launch an investigation after receiving 21 complaints and allegations against Lee at police stations nationwide. The investigation revealed Lee's elaborate efforts to avoid arrest, including spending 20 million won on plastic surgery.

Despite his various evasive measures, Lee was arrested earlier this month after a 10-month manhunt. Lee had been on the run since last September after failing to appear for a key court hearing related to his arrest warrant. During his time on the run, Lee is believed to have received help from the office manager of a law firm he had hired, who assisted Lee in his escape by arranging cosmetic surgery and providing him with a fake phone to throw investigators off track.

In addition to Lee, eight recruiters who played a key role in the scam have also been arrested and handed over to prosecutors. The case highlights the extreme lengths that scammers will go to in order to conceal their crimes and demonstrates the tenacity of law enforcement in bringing these criminals to justice.

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