News

According to Jinse Finance, Ember monitoring has revealed that a whale or institution, which has been consistently accumulating SOL through FalconX since the end of April, continued to accumulate an additional 73,500 SOL (worth approximately $13.83 million) in the past day. Over the past three months, this entity has accumulated and staked a total of 365,000 SOL (worth $59.3 million) via FalconX, with an average purchase price of $162.4 per SOL. The current unrealized profit stands at $7.3 million.

According to ChainCatcher, citing Yonhap News Agency, the Anti-Corruption and Economic Crime Investigation Unit of the Southern Gyeonggi Provincial Police Agency in South Korea announced on the 25th that they have arrested a 60-year-old suspect, referred to as Mr. A, who is accused of running an 84 billion KRW Ponzi scheme while on probation. Six accomplices have also been referred to the prosecution. From October 2020 to January 2022, Mr. A and others held promotional events for AI and cryptocurrency projects in areas such as Gangnam District, Seoul, attracting over 2,200 investors with promises of “300% returns.” They defrauded investors of 84 billion KRW by using funds from new investors to pay “dividends” to earlier participants, operating a Ponzi scheme. This individual had previously been sentenced to eight months in prison with a two-year suspended sentence for fraud in July 2021. Police have warned the public to be especially cautious of investment projects promising high returns, particularly those involving AI or cryptocurrencies, to avoid falling victim to Ponzi schemes.