A South Korean court has issued what victims describe as lenient sentences in a $5.4 million cryptocurrency scam case. The Incheon District Court sentenced the two masterminds of the scam to four years and 18 months in prison, respectively, while 28 other members received shorter or suspended sentences. Victims, represented by lawyer Kim Kyung-nam, expressed dissatisfaction, arguing that the sentences do not reflect the severity of the organized crime. The scam involved duping victims into purchasing worthless coins with promises of future resale profits. Prosecutors highlighted the systematic nature of the fraud, which targeted residents of Incheon’s Namdong District between August 2022 and May 2023. Despite the court's reasoning that many gang members were unaware of the full extent of the crimes, victims remain unable to recover financially. The case underscores the rising trend of crypto-related fraud in South Korea, with a record number of suspicious transaction reports filed in 2025.
South Korean Court Issues Lenient Sentences in $5.4M Crypto Scam
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