A South Korean financial influencer, known as Mr. A, has been accused of orchestrating a massive cryptocurrency scam resulting in the arrest of 215 individuals. The alleged ringleader, who has a significant online presence with 620,000 YouTube subscribers, fled to Australia but was apprehended. The scam reportedly took place between December 2021 and March 2023, with victims investing a total of approximately $232.7 million across 28 cryptocurrencies. Six of these coins were reportedly created and manipulated by Mr. A and his associates. Victims included many middle-aged and elderly individuals, who were misled and pressured into selling their properties to participate in the scheme. Authorities confiscated 22 Bitcoin from Mr. A and filed applications to seize an additional $34 million linked to the scam. This incident is noted as South Korea's largest cryptocurrency fraud to date, amid increasing concern over crypto-related scams in the country.

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