South Korea Sentences Crypto Fraudsters to Prison

Three individuals were found guilty of deceiving victims with promises of high returns through the selection of 1,000 top-tier cryptocurrencies worldwide, claiming monthly profits of up to 30%. However, it was later discovered that their "proprietary trading algorithm" was a sham, with the money being misappropriated for personal gain. The main perpetrator received a four-and-a-half-year prison sentence, while his two associates were sentenced to three-and-a-half and two-and-a-half years. The court condemned their exploitation of public interest in cryptocurrencies, emphasizing the need for a strong judicial response to such crimes.