According to Odaily, the Southern District Prosecutor's Office in Seoul, in collaboration with the cryptocurrency crime investigation department, has announced the arrest and indictment of four members involved in the Queenbee (QBZ) token project. The individuals are accused of defrauding approximately 4,000 people through fraudulent listings and market manipulation, resulting in a total loss of 15.1 billion KRW (approximately 10.9 million USD).

Additionally, the team is alleged to have sold all their remaining tokens through an experienced token fraudster between March and April 2021, illegally profiting another 15 billion KRW (approximately 10.9 million USD).