Korea’s $1.4B V Global Crypto Scam Accomplices Walk Free - Justice or Joke?
South Korean courts just delivered a gut punch to crypto accountability—letting key players in the massive V Global scam dodge prison time. The $1.4 billion Ponzi scheme promised investors outrageous returns, luring thousands into a classic too-good-to-be-true trap.
How They Got Away With It
Prosecutors pushed for hard time, but judges opted for suspended sentences and fines instead. Legal loopholes? Light charges? The details sting—especially for victims who lost life savings chasing crypto dreams sold by smooth-talking insiders.
Regulatory Whack-a-Mole Continues
Another day, another reminder that when it comes to crypto fraud, enforcement still plays catch-up. Scammers innovate faster than laws can adapt—leaving investors holding the bag while accomplices walk. Maybe next time they’ll just call it ‘disruptive finance’ and get a keynote slot at a blockchain conference.
Wake-up call or business as usual? In crypto, justice sometimes moves slower than a congested Ethereum network—and costs way more in gas fees.
The wheels of justice turn slowly
This is the latest in a long line of cases where the executives of fraudulent trading platforms or bogus initial coin offerings have been brought to justice—often years after their offences have taken place.
Last year, the Australian promoter of the defunct Bitconnect Ponzi scheme, which ran from 2016 to 2018, was convicted for providing unlicensed financial advice. The founders of the HashFlare bitcoin mining scam, which operated between 2015 and 2019, were not sentenced until last month.
