Cryptopolitan· Hannah Collymore·· 3 hours agoAI score52
A South Korean court in Goyang sentences a money launderer in a fake-coin scam to two and a half years in prison under the Virtual Asset User Protection Act
Goyang court convicts fake-coin launderer under Korea's crypto user law
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A South Korean court in Goyang sentenced a money launderer in a fake-coin investment scam to two and a half years in prison under the Virtual Asset User Protection Act. From late December 2024 to February 2025, 14 victims sent him about 501 million won in 76 transfers; he passed the funds on to the scam ring and profited from them. The case was not referred by the FSS or FSC, and the ruling took effect in October after an appeal was dismissed.
Source:Cryptopolitan · cryptopolitan.com