A South Korean judge sentenced Jeong Sang-ho, CEO of crypto platform Delio, to 15 years in prison for fraud. He was found guilty of fraudulently obtaining a virtual asset trading license and embezzling approximately 70 billion won ($49.3 million) in cryptoassets from users. Delio, which marketed itself as a digital asset bank offering high interest on crypto deposits, froze customer withdrawals in June 2023 before declaring bankruptcy in November 2024. Judges noted that numerous victims suffered significant economic damage that is difficult to recover.
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