South Korean Court Sentences AI Crypto Trading Scam Leaders

2026-01-17 11:53

A South Korean court has sentenced the leader of a cryptocurrency scam that promised high returns through AI automated trading. The main perpetrator received a prison sentence of 3 years and 6 months, while four accomplices received sentences ranging from 1 to 2 years, some suspended. The group, operating between 2017 and 2019, conducted over 2,800 fraudulent transactions, amassing approximately 19 billion won by falsely claiming to use AI for cross-border Bitcoin arbitrage trading.

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