1,000 won coin to 2 won..."Investment Reading Room." Fraud continues.

Search and Seizure of Representatives of Similar Investment Advisers...Luxury goods/cash full
Selling Coin Listed on Overseas Exchange...9.8 billion won worth of interceptions
Investment Leading Room Incentive..."Special discount on coins, 300% profit"

[Anchor]
Amid the craze for virtual assets such as Bitcoin, there is a "investment reading room" fraud that attracts new investors to tell them promising stocks and steals money.

A group of people who stole 9.8 billion won by manipulating the market price of virtual assets were caught, and the price of coins, which rose to 1,000 won, plunged to 2 won.

Reporter Lim Ye-jin reports.

[Reporter]
The luxury villa is lined with expensive luxury bags and spirits such as whiskey.

There is a thick pile of money on the desk.

These are from the seizure and search process for Mr. A, the representative of a similar investment advisory company in his 30s.

Mr. A and others tricked 160 victims into making more than 300 percent profit with coins listed on overseas exchanges and stole nearly 10 billion won.

We set up an investment reading room and attracted victims, saying we would let them buy foreign coins at a special discount.He lied that he could make a lot of money if he kept a coin worth

for 9 months, but the coin, which once rose to KRW 1,000, fell to KRW 2 after the promised period.

70% of the victims were in their 50s or older and were inexperienced in investing in virtual assets.

[Kim Mi-ae / 3rd chief of the Seoul Metropolitan Police Agency's Financial Crime Investigation Unit: Not only did they issue part of the promise, but they actually sold a large amount of coins and distributed only a small amount to overseas exchanges to maintain or skyrocket the market price.]

This is not the only case of stealing money by baiting high profits by offering unfamiliar overseas products.

In Incheon, 109 people were arrested for impersonating stock investment experts and stealing more than 10 billion won from 300 people.

Also, the elderly, who have weak knowledge or information about virtual assets, were mainly affected.

The police promoted it on social media and said that if the principal and high profit are guaranteed, it is likely to be fraudulent, and asked for special attention.

I'm YTN's Lim Yejin.