2026-01-08 14:28:29

The Korean police recently confirmed an important case in the virtual asset sector. A well-known investor has been under investigation by the Seoul Gangnam Police Station for suspected involvement in PikaCoin-related fraud activities. The case has now been officially transferred to the Financial Crime Investigation Unit of the Seoul Police Agency for further processing.

It is understood that the trigger for this virtual asset scam was a settlement dispute. The representative of the PikaCoin issuer accused the individual of owing a large sum—approximately 1.88 million yuan—that was not paid. The police are investigating under the "Serious Penalties for Specific Economic Crimes Act," which means the case has been classified as a financial crime.

This incident serves as a reminder to investors that they need to carefully verify the flow of funds and the identities of trading counterparts when participating in virtual asset projects.

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MonkeySeeMonkeyDo

· 01-11 14:06

Another big scandal involving a "well-known person," these crypto industry big shots are truly incredible. Dare to play even after owing 1.88 million, their guts are really bold. I've never even heard of PikaCoin, serves them right. This is exactly why I never touch unknown projects; the cost of running away is too low. Korean police really haven't been idle this time, enforcing the strengthened Financial Crime Penalty Act. The biggest fear in investing is the counterparty running away—it's a bloody lesson. Every time, people say to be cautious and conduct thorough due diligence, but some still jump into the trap.

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LayerZeroHero

· 01-10 20:09

It has been proven that the PikaCoin project has fundamental issues in its architecture design, and the settlement mechanism has not properly implemented cross-chain interoperability security verification. How can 1.88 million still be owed... This is such an outrageous on-chain audit mechanism.

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RektButAlive

· 01-10 12:29

Another big drama in the crypto world, this time it's Korea's turn PikaCoin? Never heard of it, but 1.88 million running away is indeed harsh As always, if you don't do your homework, don't touch scam coins

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LeverageAddict

· 01-10 10:58

It's Korea again and scams again. The crypto world is so deep. Luckily, I didn't touch PikaCoin. Even well-known investors can be arrested, so we small retail investors must be extra careful. Caution, caution. Not paying 1.88 million, that courage is truly remarkable. This time, I really need to wake up. Don't be fooled by those high returns. Korean police acted quite quickly this time, more efficient than some places in China. Another "trust" scam. I've learned my lesson. That's why I only stick to mainstream coins now. I blacklist all small projects.

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TokenomicsShaman

· 01-08 14:57

Another well-known figure has fallen from grace, this time involving 1.88 million... really daring to owe money PikaCoin has long been known for its high risk, yet some still jump in Korean police have been really busy lately, with one financial crime after another Honestly, I tend to stay away from projects like this—who knows what kind of background the opponents have That's why I've always said you need to be cautious in the crypto world—once the funding chain breaks, it's all over Losing money is minor; getting on the police's radar is the real trouble...

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MerkleDreamer

· 01-08 14:56

Another scam case... This circle is really rotten to the core. Owed 1.88 million and still dares to play investment, hilarious. I remember PikaCoin, I’ve long suspected something was off. I advise everyone not to touch these small coins. Well-known investors? Haha, they’re just scammers. That’s why I only watch but don’t invest; there are too many pitfalls.

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ServantOfSatoshi

· 01-08 14:54

Another crypto big shot crashes and defaults on 1.88 million? --- PikaCoin? Never heard of it, but this trick is all too familiar. --- Daring to participate in scams despite owing money, and they're even well-known investors... hilarious. --- Every time they say they need to verify identity, but it's always the same people falling into the trap. --- The Korean police's approach is pretty good; they investigate financial crimes to the fullest extent.

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bridge_anxiety

· 01-08 14:48

Is it another project like PikaCoin? Are there really still people getting involved? Owing 1.88 million—how convincing do you have to be to pull that off? --- A well-known investor has a scandal. Feels like these things happen in the circle every day. --- The police have been dispatched. Looks like this time they really went all out. It's better to stay out of the muddy waters of virtual assets. --- A settlement dispute leading to a fraud case? It shows that there was no proper research done in the first place. --- Laughs. Also reminds investors that they should have checked all these project teams long ago.

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MidnightGenesis

· 01-08 14:39

On-chain data shows that this 1.88 million transaction should have been monitored long ago. Unsurprisingly, it is another vulnerability at the settlement layer.

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All-InQueen

· 01-08 14:33

It's another crappy situation, owing money and only counting when it reaches the police. PikaCoin? Never heard of it, but I never touch projects like that. Daring to boast about large unpaid amounts, this person really has no brains. In the virtual assets circle, you're either a big shot or being harvested. 188 million just vanished like that, investors are really miserable. Already said to carefully check the trading counterpart, yet some still jump into the trap. Cases like this are increasing, the market probably needs another round of cleansing.

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