The South Korean prosecution has requested the court to sentence Bithumb exchange's actual owner Lee Jung-hoon to 8 years in prison

ChainCatcher news, according to Yonhap News Agency, South Korean prosecutors have requested the court to sentence the actual owner of the cryptocurrency exchange Bithumb, Lee Jung-hoon, to 8 years in prison, accusing him of defrauding 100 billion won (approximately 70 million USD). The prosecution stated, "The amount of loss is very large, and for ordinary token investors, the loss is particularly significant." The specific sentencing hearing will be held on December 20 in the afternoon.

It is reported that in October 2018, during negotiations to sell Bithumb shares, Lee Jung-hoon and BK Group Chairman Kim Byeong-keun, believing Lee Jung-hoon's claim that BXA (Bithumb Token) would be listed on Bithumb, used part of the proceeds from the pre-sale of BXA to purchase shares of Bithumb. However, BXA was never listed on Bithumb, and the BK Group's acquisition of Bithumb also came to an end without any conclusion. (Source link)