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    Home»Crypto News»Former CEO of Crypto Change Bithumb Sentenced to Two Years in Jail: Report – The Every day Hodl
    Former CEO of Crypto Change Bithumb Sentenced to Two Years in Jail: Report – The Every day Hodl
    Crypto News

    Former CEO of Crypto Change Bithumb Sentenced to Two Years in Jail: Report – The Every day Hodl

    By Crypto EditorDecember 30, 2024No Comments2 Mins Read
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    Former Bithumb CEO Lee Sang-jun has reportedly been sentenced to jail after being discovered responsible of receiving money and presents to have interaction in a fraudulent token itemizing scheme. 

    Native Korean information outlet The Hankyoreh experiences that the Seoul Southern District Courtroom has sentenced the 55-year-old to 2 years behind bars and ordered him to pay a fantastic of 52 million received ($35,367) for receiving cash and lavish gadgets as bribes from businessman Kang Jong-hyun.

    Kang allegedly shelled out 3 billion received (roughly $2 million) in money and over $272,000 value of luxurious watches, designer baggage and unique restaurant membership playing cards to get a coin listed on Bithumb. Kang obtained a sentence of 1 12 months and 6 months of jail time for breach of belief costs. 

    The bribery scheme additionally concerned former skilled golfer Ahn Sung-hyun, who served because the intermediary liable for receiving and delivering the money and items. The courtroom mentioned that he deceived Kang when he took a big portion of the cash meant for Lee. Ahn was sentenced to 4 years and 6 months in jail.

    Bithumb is South Korea’s largest crypto trade by every day buying and selling quantity and a coin itemizing can doubtlessly drive up costs. The worth of PONKE (PONKE) and Raydium (RAY) surged after the platform introduced spot buying and selling help for these two Solana (SOL)-based crypto property final month.

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    Former CEO of Crypto Change Bithumb Sentenced to Two Years in Jail: Report – The Every day Hodl

    Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any losses chances are you’ll incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in internet online affiliate marketing.

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