Two individuals in their 20s and 30s have been apprehended by South Korean police for defrauding a senior citizen and stealing 5.5 billion South Korean won ($4.1 million) in multiple transactions. The culprits had promised the victim significant profits from cryptocurrency investments between September and December 2022. They assured a monthly return of 70% on a 1 billion won investment. The fraudsters received a total of 5.5 billion won from the victim in six different transactions, presenting forged balance certificates as proof of investment. The victim was shown fake balance sheets for cryptocurrencies and real estate contracts during the scam. These fraudulent balance sheets claimed the victim’s funds had grown to 20 billion won in cryptocurrencies, despite none of the money actually reaching any crypto trading account. The police have successfully apprehended the fraudsters, but the recovery of funds has not been disclosed to the public. In other news, Do Kwon, the co-founder of Terraform Labs, a notorious South Korean crypto entrepreneur, has reportedly been released from prison in Montenegro, despite extradition requests from the United States and South Korea. Kwon is facing legal charges for the collapse of the Terra ecosystem in 2022. The decision to release Kwon was made by the Council of the Supreme Court, pending a review of whether he will be extradited to South Korea.