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Three South Koreans Arrested for Allegedly Scamming $4.1 Million in Memecoin Fraud Using Golf Membership as Pretext

Summary: According to reports from News1, South Korean Gyeonggi Southern Provincial Police arrested and charged three suspects on August 28, 2025 for allegedly conducting cryptocurrency fraud, scamming approximately 57 billion Korean won ($4.1 million) from 129 victims. The group is accused of creating a memecoin called GCV between December 2023 and June 2024. They reportedly lured ...

According to reports from News1, South Korean Gyeonggi Southern Provincial Police arrested and charged three suspects on August 28, 2025 for allegedly conducting cryptocurrency fraud, scamming approximately 57 billion Korean won ($4.1 million) from 129 victims. The group is accused of creating a memecoin called GCV between December 2023 and June 2024.

They reportedly lured investors to invest in the coin by falsely promising membership at Asian golf courses.

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Link: Three South Koreans Arrested for Allegedly Scamming $4.1 Million in Memecoin Fraud Using Golf Membership as Pretext [Copy]

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