Multi-level marketing schemes are being used by "crypto" fraudsters in South Korea to target people in their fifties and sixties. According to the Financial Supervisory Service, the number of alleged crypto-themed fraud cases registered in the country increased by 41.6 percent from January to October of last year to the same timeframe in 2019. One man explained that he had lost 90% of his money after trusting an investment recommendation from an old school friend.