By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Krypto CouncilKrypto CouncilKrypto Council
Notification Show More
Font ResizerAa
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Alt Coins
    • Meme Coins
    • Exchange
    • ETF
  • Market News
    • AI
    • Web 3
    • Economy
    • Gaming
    • Regulation
  • Price Prediction
  • Events
  • Advertise
Reading: South Korean Crypto Criminals Sentenced for Ponzi Fraud, 30 % Lies?
Share
Font ResizerAa
Krypto CouncilKrypto Council
Search
  • Home
  • Crypto News
    • Bitcoin
    • Alt Coins
    • Ethereum
    • Meme Coins
    • Exchange
    • ETF
  • Market News
    • AI
    • Web 3
    • Economy
    • Regulation
  • Price Prediction
  • Events
  • Advertise
Krypto Council > Blog > Market News > Regulation > South Korean Crypto Criminals Sentenced for Ponzi Fraud, 30 % Lies?
Market NewsRegulationWeb 3

South Korean Crypto Criminals Sentenced for Ponzi Fraud, 30 % Lies?

Anandhraja A
Last updated: March 31, 2025 9:53 PM
Anandhraja A
Published: March 31, 2025
Share
South Korean
SHARE
  • Exposing the Crypto Scam, how the South Korean trio enticed investors with exaggerated promises of 30% monthly returns, laying bare the machinery of the Ponzi scheme and its effects on victims.
  • Legal Accountability and Justice, the court’s verdict, the sentences imposed, and the wider legal implications for crypto linked financial crimes in South Korea.
  • Investor Caution and Fraud Prevention, the public about identifying red flags in cryptocurrency investments, stressing the value of due diligence and regulatory scrutiny as ways to avoid future scams.

South Korean Court Sentenced The Scammers?

A South Korean court has handed down prison terms to three members of a South Korean crypto scam group for misleading investors out of 610 million won ($460,000) with the promise of high returns through cryptocurrency investment.

Contents
South Korean Court Sentenced The Scammers?Crypto Risks In South Korea

According to Reporters, Busan District Court’s Criminal Division 6, presided over by Presiding Judge Kim Yong gyun, delivered the judgment on March 30. The court imprisoned the leader of the group, Mr. A, who was the CEO of an investment firm, for 4.5 years. Another two members of the gang were handed prison terms of 3.5 years and 2.5 years, respectively.

The defendants set up an investment company in Busan in June 2019, stating they would choose and trade about 1,000 quality virtual currencies from around the world. They guaranteed investors a 30% monthly return on their initial investments. Instead of investing the money as they had promised, the group diverted the funds for their own use.

The court reproached the defendants for taking advantage of the victims’ ignorance regarding investment in cryptocurrencies. The Judge said, “Mr. A and others committed the crime by taking advantage of the victims’ lack of knowledge about coin investment,” adding that the method and circumstances of the crime were “very poor,” as they misled investors with false promises.

Crypto Risks In South Korea

This case illustrates the increasing problem of crypto fraud in South Korea. Previously this month, prosecutors detained a leading crypto market maker on charges of scam coin related fraud, and reports of such fraud cases keep increasing.

Also read : Hyperliquid’s USDC outflow exceeds $340M amid JELLY dispute, HYPE tanks 10%

Crypto Scam Concerns: Are Kerala’s Youth Becoming Involved in the Crypto Craze?
ZachXBT Raises Concerns Over Coinbase’s Account Issues and Transparency Concerns
XRP ETF Approval Expected as BlackRock, Fidelity, and Others Show Interest
Trump Initiates America-China Trade War with Tariff Increase
Gold Backed Cryptocurrencies Rise as Global Trade Faces Uncertainty

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

TAGGED:Crypto Scam
Share This Article
Facebook Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto News

  • Bitcoin
  • Ethereum
  • Alt Coins
  • AI
  • Economy

About

  • About Krypto Council
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Connect With Us

  • Advertise with Us
  • Follow Us On Socials
Twitter Telegram Linkedin Instagram Youtube
Krypto Council News

KryptoCouncil is your hub for crypto news, AI breakthroughs, and market analysis. We cover everything from blockchain trends to major token moves, helping you stay informed in the fast-paced digital economy.

© Krypto Council. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?