Seoul Court Acquits 'Jonber Kim' in $253M Crypto Scam Case
- —Court found no direct link between white paper claims and investors' token purchases
- —Prosecutors sought 20 years in prison and over $14 million in forfeiture
- —The scheme involved two tokens, Podo coin and ATube, with $253 million in alleged losses
- —In August the same court sentenced former Delio CEO Jeong Sang-ho to 15 years for embezzling $49.2 million
Why it matters: The acquittal complicates South Korea's crackdown on market manipulation as regulators roll out AI tools to detect suspicious trading.
Source: Bitcoin.com