Cryptocurrency News

Alleged $3.6B Crypto Ponzi ‘Victims’ Still Believe the Exchange is Legitimate



Victims of an alleged $3.6 billion crypto Ponzi scheme in South Korea are hindering the progress of a police investigation and a joint trial – as they still believe in the project and hope for a return on their investment.

Korean law firm Daegono on June 4 Allegedly A joint complaint was filed on behalf of 130 investors against V Global, its CEO and three executives and the Gyeonggi Nambu Police Agency.

The Gyeonggi Nambu Police Agency Is Investigating V Global For An Alleged Crypto Ponzi scheme which allegedly defrauded nearly 69,000 of the 4 trillion won ($3.6 billion) – promising investors they would triple their investments.

a notice The company’s website states that it strongly denies the “false” claims and has filed a complaint with Secho Police for “defamation and obstruction of business”.

June 8 article from a local media outlet jongang daily The state police have “hit a snag” recently as some of the “victims” of the alleged Ponzi scheme He declined to provide details of the case.

According to the publication, police raided 22 offices of V Global in South Korea last month and — despite freezing $213 million in assets in the process — employees of the firm are sending messages to inform victims that the company is not under investigation.

An unnamed person told JoongAng that he believes V Global cheated on his mother. “A few days ago, on June 2, they sent him a text message alleging that no one in the company was being investigated by the police,” the man said.

“They keep asking investors to wait and see before they stop reporting them to the police,” he said.

with Sell Its own native token, V Global, reportedly promised that anyone who invested at least $6 million won, which is worth approximately $5381, tripling their investment by paying in dividends after six months. will do it.

“They tried to imitate a cryptocurrency trading platform, but in reality, they were running an illegal Ponzi scheme on investors,” a police officer told Jongang.

According to Yonhap news agency, We Global also Offered Won a referral bonus of 1.2 million for bringing new customers to the platform, which is worth about $1000.

The article alleges that V Global used new members’ investments to pay dividends to existing members.

If V Global is found guilty, it will likely be one of the biggest crypto-related Ponzi schemes, similar to the infamous one. multi billion ponzi scheme From OneCoin in 2015.