Warning! South Korea uncovers counterfeit money scam, off-exchange trading risks sound the alarm again

2025-12-19 23:00:10

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【Crypto World】Recently, Korean police cracked a serious scam case. The criminal gang used color printers to mass produce counterfeit 50,000 won bills, then impersonated ordinary traders to scam cryptocurrencies through over-the-counter (OTC) trades.

The scale of the case was significant—9,188 fake bills, with a total value of approximately 459.4 million won (about $330,000). Victims only discovered the issue during actual transactions, which drew the attention of the police. Three main suspects were arrested, one of whom even fled to Cambodia but was eventually captured.

This case serves as a reminder that OTC trading, while seemingly convenient, carries many hidden risks. Whether it’s counterfeit bills or other forms of fraud, scammers are constantly changing their tactics. Interestingly, similar counterfeit bill scams had also appeared in Hong Kong some time ago. What does this indicate? It shows that such risks are cross-regional and recur repeatedly.

If you frequently engage in OTC trades, it’s best to stay vigilant—carefully verify the authenticity of banknotes, use counterfeit detection pens if necessary, or prioritize legal fiat trading functions on reputable exchanges for higher security.

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ImpermanentPhobia

· 2025-12-22 22:06

It's another counterfeit bill eyewash, these people are really ruthless, daring to scam coins as soon as the printer starts? --- OTC Trading really requires caution, 330,000 USD just disappeared like that, can't hold on anymore --- Escaping to Cambodia can still get caught, which shows that there are still people watching this industry, consider it lucky --- I just want to know how those victims didn't notice the counterfeit bills, is the paper texture that different? --- Cross-regional fraud, Hong Kong and South Korea working together, this is true internationalization, ironic haha --- So OTC Trading is just gambling with people's character, every time you have to check the bills as carefully as checking the authenticity of coins --- More than 9,000 counterfeit bills, how long would it take to print them all, that's efficiency!

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TrustlessMaximalist

· 2025-12-21 04:51

OTC Trading is a minefield, and now even counterfeit money has appeared. I'm really fed up. They've even used printers; these people's imagination is truly unbelievable. Both Hong Kong and South Korea have fallen victim, which indicates what... there is no safety in OTC. A case involving over $300,000 was only caught because someone discovered the truth. I advise everyone to stick to the exchange, don't gamble with your life just to save on a bit of transaction fees.

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MidsommarWallet

· 2025-12-19 23:28

Printer fake banknotes to scam coins, this trick is really clever, and they even fled to Cambodia to escape... The over-the-counter trading scene is getting dirtier and dirtier.

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SilentAlpha

· 2025-12-19 23:23

Another OTC trap. How can there still be people daring to exchange cash directly? They've even started using printers. These days, scam groups really have all kinds of tricks. Hong Kong and South Korea have both fallen victim. It seems that OTC risks are huge in Asia. $330,000 just like that, scammed away. How heartbreaking for the victims. I still believe exchanges are more reliable. OTC trading is really not worth it.

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DegenTherapist

· 2025-12-19 23:11

Another over-the-counter trading crash, buddy, your moves are truly outrageous. --- Counterfeit money scam? They've even got a printer now, these people are really something. --- Escaped to Cambodia but was still caught, showing that the crypto world’s issues are globally wanted. --- 33,000 USD just for these fake bills, what were they thinking? --- Hong Kong and South Korea both have it, which place should we target next? --- Over-the-counter trading is just a trap, on-chain is more reliable. --- How many coins can you get for a fake bill printed with a color printer? This business is insanely profitable. --- I just want to know how this guy never thought about getting caught. --- Really, now paying attention to banknotes has become a mandatory course.

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NotSatoshi

· 2025-12-19 23:01

The printers are all set up, this scammer is really ruthless, turns out fake bills are easier to get rid of than real coins these days.

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