Team McAfee has said it provided information that led to the arrest of a prominent South Korean national, Go Yongsung who was alleged of involving in large-scale fraudulent activities between 2015 and 2016.
The Bitcoin fraudster was arrested alongside Lian Lilong, a 36-year-old Chinese national alleged of economic crimes. The two are to be repatriated from Philippines back to their respective countries.
In a report by Manila Bulletin, the Philippines Bureau of Immigration (BI) decided to deport the two alleged fraudsters over their involvement in illegal financial dealings.
Jamie Morente, the BI Commissioner who talked on the action said the country had mentioned to all foreign criminals hidden in Philippine that they will be arrested, prosecuted, and returned back to their homelands for necessary punishments.
Meanwhile, Yongsung was arrested on allegations of involving in a Ponzi scheme between December 2015 and June 2016, and conspired to defraud people of around $33 million.
Also, he was alleged with other five fraudsters of deceiving people to invest in a fake Bitcoin (BTC) $6562.03 -0.19% schemes, and was arrested after intelligent info in September.
How Team McAfee Led To His Arrest.
Speaking on the incident, veteran security analysts and programmer John McAfee said His Team provided information that led to the arrest of the alleged fraudster Yongsung, pointing that he scammed millions form Team McAfee’s Crypto Tribe.
John McAfee however warned all crypto fraudsters to take caution, the same way he has been warning centralized exchanges.
He said: “The McAfee Alliance in action: information provided by Team McAfee has led to the arrest of Go Yongsung, who scammed millions from our Cryoto tribe. A warning to everyone who preys on our community: We will hunt you. We will find you. We will collect you.”
Increase In Cryptocurrency Fraud
There is increase in the number of cryptocurrency fraud in recent time. However, different bodies including governments are looking for ways to curtail this.