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25 June 2021

Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit

Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit


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Victims of an alleged $3.6 billion crypto Ponzi scheme in South Korea are reportedly hampering the progress of a police investigation and a joint lawsuit — as they still believe in the project and hold out hopes of getting a return on their investments.

On June 4, Korean law firm Daegon reportedly filed a joint complaint against V Global, its CEO, and three executives on behalf of 130 investors and the Gyeonggi Nambu Police Agency.

The Gyeonggi Nambu Police Agency is reportedly investigating V Global for an alleged crypto Ponzi scheme that reportedly defrauded around 69,000 people out of 4 trillion won ($3.6 billion) — while promising investors they would triple their investments.

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