South Korean authorities have arrested 215 people for their involvement in a 325.6 billion won ($232 million) cryptocurrency scam 🚔. Those arrested include employees of the fraudulent company and its founder, a popular YouTuber with 620,000 subscribers. The scheme promised 20-fold returns, but most of the tokens turned out to be nearly worthless.

Despite this, the cryptocurrency market in South Korea continues to grow 📈. The number of investors increased by 21%, reaching 7.78 million in the first half of 2024. The growth was fueled by a surge in Bitcoin prices and an increase in daily transaction volumes.