{"id":154357,"date":"2025-03-31T12:00:23","date_gmt":"2025-03-31T09:00:23","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=154357"},"modified":"2025-03-31T11:45:15","modified_gmt":"2025-03-31T08:45:15","slug":"south-korean-court-sentences-three-for-460k-crypto-scam","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/south-korean-court-sentences-three-for-460k-crypto-scam\/","title":{"rendered":"South Korean Court Sentences Three for $460K Crypto Scam"},"content":{"rendered":"<p>The scam took place through a fraudulent investment firm promising high returns on cryptocurrency trades.<\/p>\n<p>According to a <strong><a href=\"https:\/\/www.chosun.com\/national\/regional\/yeongnam\/2025\/03\/30\/RVPXEWUURBE6PNQ6NJL43QRSAA\/'\/\" target=\"_blank\" rel=\"nofollow\">report<\/a><\/strong> from Chosun Ilbo, the Busan District Court\u2019s Criminal Division 6 delivered the sentences on March 30. The group\u2019s leader, identified as Mr. A, received a sentence of 4.5 years in prison, while two accomplices were sentenced to 3.5 and 2.5 years, respectively. Mr.<\/p>\n<p>A had operated as the CEO of the firm, which he founded in 2019 with the claim of offering investment in over 1,000 high-quality cryptocurrencies. The defendants promised investors returns of 30% per month but instead embezzled the funds for personal use.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-could-hit-150000-by-year-end-says-financial-expert\/\" title=\"Bitcoin Could Hit $150,000 by Year-End, Says Financial Expert\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/03\/bitcoin-price-rocket-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin Could Hit $150,000 by Year-End, Says Financial Expert<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The court criticized the trio for taking advantage of investors\u2019 lack of understanding of cryptocurrency, noting that the crime involved manipulation of vulnerable individuals with misleading promises. Judge Kim Yong-gyun expressed disappointment with the severity of the crime, stating that the methods used by the perpetrators were deeply troubling.<\/p>\n<p>This case highlights the growing issue of cryptocurrency fraud in South Korea, as similar scams continue to emerge. Recently, prosecutors arrested a prominent crypto market maker on related charges, signaling an increase in efforts to combat fraud within the crypto space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A South Korean court recently handed down prison sentences to three individuals involved in a cryptocurrency investment scam that defrauded investors of approximately $460,000.<\/p>\n","protected":false},"author":3,"featured_media":1558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-154357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korean Court Sentences Three for $460K Crypto 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