newspaper reported Coindesk Korea A YouTube crypto celebrity was badly beaten by two attackers in the elevator of his apartment early last Friday morning.

The person named Kyu-Hoon Hwang was seriously injured and was taken to the hospital and has remained there until this moment.

According to the source, Hwang started streaming cryptocurrency videos in October 2017 and has nearly 59,000 subscribers.

The price of most cryptocurrencies peaked in December 2017 and is now down by at least 90% on average.

Huang is also the owner of several crypto projects, including marketing firms Bit Gosu and BIT Co., Ltd, which are said to have promoted some initial coin offerings (ICOs), including Coinrunners, with around 1,000 members.

Read:Bitcoin drops to $25,000 levels and a sharp decline in the total value of the crypto market

The Coinrunners Gold membership is reported to be 3 units of Ethereum per year (in 2017 Ethereum was short-lived at over $1,400 while it is currently trading at $149).

“Golden” membership in Coinrunners Subscribers are entitled to investment analysis and ICO recommendations from Huang in person.

Recently, Project Coinrunners and Huang have been at the center of a scandal involving investors disgruntled with losing money in the program.

The angry Coinrunners issued threats against Huang, including death threats.

The Coinruners Community Officer stated in a notice that:

Coinrunners, Coinrunners Gold and Bitcoin YouTube channels will be suspended temporarily, and we will decide whether to resume operations.

South Korea was one of the hotbeds of crypto and ICO booms in 2016 and 2017, as Korean lawmakers, worried about not initially stifling innovations, took an away approach from the crypto market.

But like many other regions, Korea’s unregulated crypto landscape has become riddled with fraud, inefficiency, and loss.

In July this year, the Korean Ministry of Justice reported that South Koreans lost $2.7 billion, equivalent to 2.7 trillion Korean won, to crypto scams between July 2017 and June 2019.

Read:The stablecoins on the exchanges hit an all-time high… What does this mean for Bitcoin?

In March, the South Korean Public Prosecutor’s Office set up a task force to respond to the reported 800% increase in crypto crime complaints.

Read:Why did the free airdrop of 2 billion XLM tokens in collaboration with Keybase fail?

Hacking, insider manipulation and scams have been common on many cryptocurrency exchanges in South Korea.

Watch Huang’s YouTube channel from over here.

Huang’s story is a vivid example of many similar cases in which the owners of private channels, whether on Telegram, YouTube or others, promised investors to provide 90% successful recommendations, while in fact it is difficult to reach this percentage because the cryptocurrency market is a very volatile market and no one knows his step next.

For our part, we have always mentioned on the Arab Bitcoin website the need for caution and caution and to maintain financial safety.

Read also:

Beware of email scams targeting Binance users

A licensed cryptocurrency trading platform is scamming its users… Get to know it