The head of the South Korea’s encryption was struck with the second fraud case star-news.press/wp

Reports revealed that Shin Jin Wook, CEO of South Korea Bitonian Curd, had been delivered The second prison sentence For fresh fraud charge.

It is located in Daegu, SHIN is convicted of manipulating trading data and misleading customers. He is already serving a seven -year prison sentence for a disappearance between $ 10 billion (about $ 7.5 million) in deposits, and now faces more time in prison on a smaller scheme but is still dangerous.

Small trading volume and misleading ads

According to the Daiju Provincial Court, Shen used false trading numbers to increase the price of the British currency encryption market (BSC). It was attracting customers with fake ads and strengthened “KRW Points” through re -purchases.

Those points and then funded the actual purchases of Bitcoin and ethereum One of the users of the basic system. Once shin is converted into Crypto into cash, pour money into non -relevant companies.

The court found that this session was obtained by approximately $ 160 million ($ 115,000) in bad gains.

Investigators noticed that Shane gave investors a guarantee of imprisonment. In fact, the investments or the promised interest can be returned. When the victims pressed their money, they discovered the hollow promise.

Condemning the previous prices

In February 2024, he was the chief technology official in Shin and Putonic, known only by the BAE title, Heal To a prison for eight years combined due to a separate fraud that includes price manipulation.

Reports stated that this previous ruling stems from the Seoul Provincial Court, which concluded that both CEOs benefited deceptive by amplifying trade sizes. At that time, Shen settled with the two biggest victims, which the judge said helped nominate a lighter penalty.

The February ruling confirmed that Shane nor any previous condemnation of similar crimes. Judge Seong Jeon indicated that their lack of a criminal record and the partial recovery of Shane with senior victims supported the “lenient” approach under South Korean law.

However, the large amounts involved – 10 billion yuan in deposits and 160 million yuan – are the scope of the confidence of these executives who betrayed them.

Questions about overseeing exchange

According to digital assets ReportsThe professionals note that the Crypto Exchange Bitsonic mode indicates the vulnerabilities in the actual time monitoring of exchanges.

Sleeping sizes and unlimited assurances are likely to be discovered without being discovered without more powerful analyzes of the chain. Customer confidence suffers every time a high -level exchange scandal explodes.

Some traders are already calling for mandatory proof of audit and transparent requests to help deter these violations.

Distinctive photo from Fleea, tradingView graph

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