South Korean Prosecutors have requested eight years in prison for the former head of South Korean cryptocurrency exchange Bithumb for fraud charges.
South Korean prosecutors have recently filed a court claim, which operates South Korean crypto exchange Bithumb. Bithumb Holdingsformer president of Lee Jung-hoon‘Fame $70 million scam due to eight years in prison demanded that he be punished.
According to prosecutors, Lee was head of BK Group during negotiations of a deal that would allow him to buy Bithumb Holdings. Kim Byung GunHe received 70 million dollars from token listing promise never fulfilled.
When we look at the details of the case, the chairman of Bk Group, Kim’s Bithumb BXA token a $70 million “$70 million” “to the former head of Bithumb Holdings”, on the condition that it lists it and uses the proceeds from the token sale to purchase it.contract fee“Apparently it paid off.
Allegedly, the BXA tokens were never listed on Bithumb and the deal was never completed. Despite this, Jung-hoon is in question Did not pay back $ 70 million.
The decision will be announced on December 20, according to local media outlet Yonhap.