Crypto scam led by North Korean defector hits fellow escapees in South Korea | NK News
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September 30, 2026Sep 30, 2026

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Crypto scam led by North Korean defector hits fellow escapees in South Korea

Suspect allegedly defrauded over 20 investors in a scheme that caused losses of some 1 billion won

A former North Korean soldier is being investigated in South Korea for allegedly leading a crypto scam that defrauded over 20 investors, including two fellow DPRK defectors. 

Siheung Police Station received 21 formal complaints related to the case between Friday and Tuesday, with total reported damages amounting to around one billion won (US$728,013), senior inspector Min Bu-ki told NK News.

“The person who promoted the investment was also a defector,” Min said, explaining that she claimed to be a former North Korean soldier and said she was first approached by a Chinese national who suggested recruiting others into the