A Cambodian-based phishing scam organization has been apprehended by the Seoul Metropolitan Police Agency, leading to the arrest of 49 suspects involved in defrauding victims through fake online romances and scams that exploited a purported 'coin dating savings' scheme. The police reported that these individuals participated in activities such as romance scams and impersonation scams, which have defrauded about 68 victims out of approximately 10.5 billion won from March of the previous year until January of this year. The organization mainly operated by posing as Japanese women to lure victims on social media platforms, eventually convincing them to invest in deceptive online profit-generating schemes.

The detailed methods of operation revealed that the scammers built a relationship with their victims, initially providing small returns on investments to create a sense of trust. This trust was exploited to encourage victims to deposit larger sums, after which they either shut down the fake websites or refused to allow withdrawals, a tactic commonly known as 'pig butchering.' Additionally, in a separate scheme, members of the organization impersonated university staff or monks to fraudulently facilitate large purchases on behalf of businesses, accumulating significant losses for the victims through bogus purchase transactions.

In light of these developments, the police have also targeted accomplices still at large and have issued international red notices through Interpol for 12 individuals who are overseas. The operations of this criminal organization highlight a troubling trend in cyber fraud, where victims are increasingly targeted through sophisticated schemes that combine emotional manipulation with financial deception, emphasizing the need for enhanced vigilance and international cooperation in combating these crimes.