$250 Million Ethereum Mining Scam? Korean Prosecutors File Charges

Korean prosecutors have reportedly filed charges against several individuals associated with Mining Max, US-based cryptocurrency mining firm allegedly behind a major cryptocurrency mining scam.

According to a report by Korean publication Yonhap, authorities at the Incheon District Prosecutors’ Office have indicted 21 individuals suspected of being associated with Mining Max LLC, a US-based firm, on charges of fraud and allegedly soliciting 270 billion won (approx. $250 million) from investors across the world for an Ethereum mining operation promising large returns. Three others have been indicted without detention for embezzlement and other charges.

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