South Korean prosecutors indict developer of crypto scam site

South Korean prosecutors have indicted a man accused of developing a fraudulent virtual asset staking website and defrauding victims of 800 million won (around $615,000), Yonhap News reported. The Seoul Northern District Prosecutors' Office charged the man with fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violation of the Information and Communications Network Act. The alleged crimes took place around March 2025.