A group of people released on bail for issuing 'fraud coins' named after celebrities

Officials of a cryptocurrency issuer who was put on trial for stealing tens of billions of won by creating a cryptocurrency for fraudulent purposes named after a famous celebrity have been released on bail.

The Seoul Southern District Court cited bail claims against three people, including the operator of the QuinBeecoin developer, identified only by his surname Lee.

The court gave Lee a bail condition of paying 200 million won in deposit, attending at a fixed date and place at the time of summons, and reporting in advance when leaving the country or traveling for more than three days.

Lee and others have been arrested and charged with stealing about 30 billion won by luring more than 13,000 people, claiming that famous celebrities have invested since 2020.

The prosecution is continuing its investigation after finding circumstantial evidence related to Jeon Sung-bae, a reconstruction judge, while investigating the flow of funds in this coin.