South Korean Police Arrest 19 in ‘Reading Room’ Crypto Fraud Bust

South Korean police have arrested 19 suspects linked to a cryptocurrency scam with allegations of defrauding investors out of 3.3 billion Korean won (approximately $2.85 million). The scam involved a crypto investment scheme called the ‘Reading Room’. The operation was based in Daegu, South Korea, and was set up under the guise of an exclusive club for book enthusiasts that operated in secret.

According to the Daegu Metropolitan Police Agency, the organizers lured people into investing in their