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BTCC / BTCC Square / Global Cryptocurrency /
South Korean Prosecutors Bust $1.3M Crypto Romance Scam Posing as Elon Musk Associates

South Korean Prosecutors Bust $1.3M Crypto Romance Scam Posing as Elon Musk Associates

Author:
Global Cryptocurrency
Published:
2025-12-31 18:47:02
14
3
BTCCSquare news:

South Korean authorities have dismantled a Cambodia-based criminal syndicate that defrauded victims of $1.3 million through an elaborate romance scam. The group, operating from Poipet, posed as wealthy women on messaging platforms, falsely claiming connections to Tesla CEO Elon Musk and offering exclusive SpaceX investment opportunities.

Between December 2024 and October 2025, the organization used a fabricated SpaceX mobile application to intercept funds, ultimately converting proceeds through local criminal networks. Thirteen members face charges including criminal organization operation and telecommunications fraud violations, with eleven currently in custody.

The scheme preyed on investor enthusiasm for space-related ventures, employing scripted conversations to build trust before introducing the fraudulent investment platform. Prosecutors emphasize the sophistication of the operation, which Leveraged SpaceX's market reputation to lend credibility to the scam.

|Square

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