Korean Crypto Fraud Fugitive Arrested in Makati
Philippine authorities arrested a 32-year-old South Korean fugitive in Makati City who was operating without valid travel documents. The suspect allegedly orchestrated investment and cryptocurrency scams that defrauded 75 overseas victims.
Key Takeaway
Philippine authorities are becoming a key partner in catching international crypto fraudsters hiding in Southeast Asia.
A South Korean fugitive wanted for cryptocurrency fraud was arrested in Barangay Bel-Air, Makati City, following a joint operation between the Philippine National Police and Interpol.
The 32-year-old suspect was the subject of an Interpol Red Notice for telecommunications fraud and crypto-related crimes. Authorities discovered he lacked valid travel or immigration documents at the time of his arrest on Malugay Street.
The operation involved coordination between the PNP, Bureau of Immigration, and Presidential Anti-Organized Crime Commission working alongside the Korean National Police Agency. PNP Chief Police General Jose Melencio C. Nartatez Jr. said collaborative efforts with international partners allow law enforcement to hold criminals accountable more quickly, even in cross-border cases.
Makati's role as a financial hub makes it a common destination for fugitives attempting to hide in plain sight. The suspect now faces deportation proceedings and potential extradition to South Korea to face charges related to the fraud schemes targeting 75 people across multiple countries.
🇵🇭 Filipino Impact
The arrest shows how BSP-licensed exchanges like PDAX and Coins.ph benefit from stronger enforcement — fugitives using unregulated channels to launder crypto funds face higher risk of detection.
This article was written based on reporting from Tribune.
