Korean court jails fake-coin launderer under new crypto user protection law
REGULATIONcoinbrief/daily · 1 source
- Severity
- Low
- Sources
- 1
What happened
A Goyang court sentenced a launderer to two and a half years for handling about 501 million won from fourteen victims of a fake-coin scam. He was convicted under the Virtual Asset User Protection Act without a prior referral from the FSC or FSS, which the court said was a first. His appeal was rejected in October, making the sentence final.
For IT people · Written by AI from 1 source · Wrong?
What to do
- Watch for further prosecutions under the Virtual Asset User Protection Act that do not come through FSC or FSS referral.
- Watch the prosecutors' appeal against the Jong-hwan Lee ruling over the about 7.1 billion won in dropped charges.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Cryptopolitan