South Korean police are investigating allegations that a domestic bitcoin (BTC) and ethereum (ETH) crypto mining “pool” is a scam.
Per Yonhap and Asia Kyungjae, the Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit stated that it was conducting a probe into a pool named Ethlot.me and was working with colleagues at police stations across the country on the case.
A group of alleged victims has come forward to state that they were left out of pocket after being told they could expect “guaranteed income” by “buying” crypto mining rigs. This equipment, they were told, would then be operated remotely in nations such as Kazakhstan.
The initiative appears to have centered around a firm named Ethlot, which opened an office in Seoul’s Seocho District in November last year.
The company went on an active recruitment drive via its website Ethlot.me from January 2022, police said. However, the company’s website went down earlier this month, and the community’s main...
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