South Korean Court’s Lenient Ruling in $5.4M Crypto Scam Sparks Outrage
Victims of a ₩8 billion ($5.4 million) cryptocurrency scam in South Korea are decrying what they see as excessively light sentences for the perpetrators. The Incheon District Court handed down a four-year prison term to the scheme's mastermind, with an accomplice receiving 18 months. Twenty-eight other defendants drew sentences ranging from six months to 2.5 years.
Legal representatives for the 150 victims expressed bewilderment at the court's decision, particularly the suspended sentences granted to some defendants. "These crimes continue to disrupt victims' financial lives," said Kim Kyung-nam of For You Law Firm. The judgment allows both ringleaders to avoid incarceration if they maintain clean records.
The case highlights growing tensions between crypto fraud victims seeking justice and judicial systems struggling to adapt to blockchain-related crimes. No specific cryptocurrencies were named in the proceedings, though the scale of losses suggests sophisticated coordination among perpetrators.
