Saturday, May 30, 2020

Philippines Deports South Korean Suspect For Bitcoin Scam

As the frauds and bitcoin scams scatter all over the internet, its suspects and hackers also scattered around the world. Recently, the government of Philippines announced the deportation of a South Korean national which turns out to be one of the most wanted suspect in a bitcoin scam that happened in 2015 and 2016.

According to a Philippines’ local news portal – – Manila Bulletin, the operation led by the country’s Bureau of Investigation (BI) and its Fugitive Search Unit (FSU) found out that the papers of a South Korean national named Go Yong-Sung was illegal and he was living in the country as an illegal alien. It turns out that the passport of Go was already revoked by the government of South Korea along with the other Chinese national that was also arrested with the same crime.

According to the BI Commissioner Jaime Morente, both of the foreign nationals were found in different places such as Las Pinas and Manila in the country. Due to this, he  reminded the foreigners who will stay in the country that they will be confident to arrest them anytime once their papers are  proven to be illegally submitted in the government.

“We reiterate our warning to all foreign criminals who are hiding in the country that the long arm of the law will eventually catch you and we will send you back to your homelands,” the BI chief said.

Although, the first crime of the two nationals was staying in the country without legal papers, the BI also found out that the both of them are suspects for business scams in their countries. Due to this, the government of Philippines decides to send them back and deport them to their government.

According to South Korean government, the crime that was sentenced to Go happened between December 2015 to June 2016 which more than $33 million were lost and scammed through a pyramid scam created by Go and five from his group. The said pyramid scam allegedly promised a huge profit for the Koreans as they invest and buy bitcoins from their company. After for a while, the victims noticed that the bitcoins that they bought were all non-existent in their accounts. After this, Go had been fugitive for almost 2 years and now, he is arrested.

As the number of frauds and scamming incidents arises around the world, the number of suspects in these crimes also arises at the same time. Still, the final security of our wallets depends on our hands and discipline to ourselves.

 

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