According to news on June 25, the South Korean police arrested three suspects in a "blockchain technology-based dog nose print recognition" fraud project and charged another 64 people with suspected fraud, involving 166.4 billion won (approximately 1.27 billion yuan). One hundred million U.S. dollars).
South Korean police said it was a "typical Ponzi scheme" in which victims were lured into investing in a company that claimed to be able to identify pet dogs by their nose prints, similar to fingerprinting, and falsely claimed to use blockchain technology. The project with cryptocurrency has been listed on Bithumb and promises to achieve up to 150% return on investment within 100 days, raising about 166.4 billion won from 22,000 people
South Korean police said it was a "typical Ponzi scheme" in which victims were lured into investing in a company that claimed to be able to identify pet dogs by their nose prints, similar to fingerprinting, and falsely claimed to use blockchain technology. The project with cryptocurrency has been listed on Bithumb and promises to achieve up to 150% return on investment within 100 days, raising about 166.4 billion won from 22,000 people