The virtual asset fraud case involving Lee Hee-jin, known as the 'Cheongdam-dong Stock God,' has been transferred to the Seoul Metropolitan Police Agency's Financial Crimes Investigation Unit. Lee faces allegations including a failed profit-sharing agreement worth nearly 1.88 billion KRW and expanded damages claims of 28 billion KRW related to Pica Coin development. Additionally, he is accused of a 90 billion KRW fraud involving false advertising and market manipulation with Pica Coin and two other tokens, having been arrested in October 2023 and released on bail in March 2024.