The Seoul Southern District Prosecutors' Office's Joint Investigation Team for Cryptocurrency Crimes has indicted 41 cryptocurrency fraudsters and recovered 140 billion won ($141 million) in criminal proceeds over the past year. The investigation team has seized 84.6 billion won in property and confiscated 56.4 billion won, including 13 supercars worth 20.5 billion won and 27 billion won in real estate. The new Virtual Asset User Protection Act has strengthened penalties for unfair trade practices, with life imprisonment for gains over 5 billion won, and full recovery of fraud proceeds. Prosecutor General Lee Won-Seok aims to formalize the task force, emphasizing strict investigations and market order correction. Launched in July last year, the task force includes 30 experts from seven organizations. A prosecutor stated the commitment to creating a fair virtual asset market and protecting investors.

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