Crypto platform operator gets 15-year prison sentence in South Korea due to $50 million scam
A South Korean court sentenced the head of centralized finance (CeFi) lender Delio to 15 years in prison for embezzling digital assets from more than 1,100 customers.
Make preferred on
Share this article
Summary
- A South Korean court sentenced Delio CEO Mr. Jeong to 15 years in prison for defrauding more than 1,100 investors in a $50 million crypto scheme.
- Delio, which went bankrupt in November 2024, took bitcoin and ether deposits with promises of high yields before abruptly blocking customer withdrawals in June 2023.
- Prosecutors had sought a 20-year term and alleged 2,800 victims, but the court excluded some evidence on procedural grounds, and the case adds to a string of major crypto fraud prosecutions in South Korea.
Related Assets
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
