South Korean authorities have arrested three individuals and issued an Interpol red notice for a fourth suspect in connection with a cryptocurrency fraud scheme that allegedly cost investors 12.3 billion won ($8.55 million).
Police confirmed the arrests on Thursday, marking a significant step in the investigation into the illicit network.
The operation underscores the intensifying global regulatory scrutiny on digital asset markets.
While the specific mechanics of the fraud were not detailed in the initial report, the scale of the losses suggests a sophisticated operation targeting retail investors.
The issuance of a red notice indicates that authorities are pursuing cross-border cooperation to apprehend the remaining suspect.
This development follows a series of high-profile crypto enforcement actions globally.