The South Korean CEO of a tech firm has been arrested for allegedly masterminding an Ethereum (ETH) -themed crypto-powered fraud scheme that sucked in around 500 victims.
Per iNews24, a man surnamed Byun, named as the CEO of a company named Wacon, has been remanded in custody and will face trial. Byun was arrested alongside another suspected “accomplice” surnamed Yeom. Previous South Korean media reports from outlets such as Cheonji Ilbo have named the CEO as Byun Young-oh.