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Police have launched an investigation into a group that reassured investors by promoting business agreements (MOUs) with famous relief organizations or volunteer activities, then induced them to invest in so-called 'AI (Artificial Intelligence) coins' and swindled large sums of money.
The Cyber Investigation Division of the Gyeonggi Nambu Provincial Police Agency announced on the 10th that it had obtained intelligence about a coin investment fraud case at the end of last month and launched an investigation.
A total of 4 related complaints have been filed with the Gyeonggi Nambu Provincial Police Agency, which is the central investigative body, and the identified damage amounts to just over 1 billion won.
The police are currently collecting similar damage cases reported to police stations across the country, and the scale of damage is expected to increase significantly as the investigation progresses.
The defendants in the fraud case were found to have promoted their organizations and gathered investors by methods such as signing MOUs with large relief organizations or conducting large-scale volunteer activities.
It was also confirmed that they publicized their award history through small online media outlets or stole photos of famous politicians to make it appear as if they had connections.
They set up an office that also served as a promotional center in Yeoksam-dong, Gangnam-gu, Seoul, and recruited victims, but the office is currently closed.
A police official said, "It is difficult to disclose the detailed progress of the investigation as it is in the stage of collecting victim reports," adding, "We plan to investigate as quickly as possible to prevent the spread of damage."
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