South Korean authorities have arrested 118 individuals in Busan in connection with a $17.8 million cryptocurrency fraud scheme. The operation, which ran from October 2023 to April 2025, defrauded 284 investors by promising guaranteed returns and leveraging unlisted stocks. Police have detained 28 key suspects and used digital transaction tracking to dismantle the sophisticated scheme. The fraudsters employed psychological tactics and advanced marketing strategies to lend legitimacy to their operation. This case underscores the increasing risks associated with cryptocurrency investments and the critical importance of investor due diligence.