TechFlow news: According to News1, the Joint Investigation Team for Virtual Asset Crimes at Seoul Southern District Prosecutors' Office has arrested and indicted four individuals—including the de facto operator and CEO of the QUEENBEE (QBZ) project—on charges of fraud. The team never intended to conduct legitimate QBZ token operations from the outset, but used false listings and market manipulation to obtain approximately 15.1 billion Korean won (about $10.88 million) from around 4,000 victims. Subsequently, in March and April 2021, they sold all remaining tokens at high prices to a professional scam token disposal company, earning another 15 billion won.
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