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Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit

June 10, 2021. Summarized by summa-bot.

Compression ratio: 45.6%. 1 min read.

'Victims' of an alleged $3.6 billion Ponzi scheme are hampering lawsuits and investigations as they still believe they will see a return on their investment.

Victims of an alleged $3. 6 billion crypto Ponzi scheme in South Korea are reportedly hampering the progress of a police investigation and a joint lawsuit — as they still believe in the project and hold out hopes of getting a return on their investments.

On June 4, Korean law firm Daegon reportedly filed a joint complaint against V Global, its CEO, and three executives on behalf of 130 investors and the Gyeonggi Nambu Police Agency.

The Gyeonggi Nambu Police Agency is reportedly investigating V Global for an alleged crypto Ponzi scheme that reportedly defrauded around 69,000 people out of 4 trillion won ($3. 6 billion) — while promising investors they would triple their investments.

According to the publication, despite police raiding 22 of V Global’s offices across South Korea last month — and freezing $213 million of assets in the process — employees off the firm have been messaging victims to tell them that the company is not under investigation.

Along with selling its own native token, V Global reportedly promised that anyone who invested a minimum of 6 million won, worth roughly $5381, would triple their investment by being paid out in dividends after six months.

by summa-bot

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