A Seoul court sentenced the pair to a total combined eight years in jail and said a “significant amount” of Bitsonic user funds is still missing.
The CEO of crypto exchange Bitsonic has reportedly been sentenced to seven years in prison, while the firm’s technology chief was sentenced to one year in jail for stealing $7.5 million (10 billion South Korean Won) worth of customer deposits.
On Feb. 6, South Korean media outlet Yonhap News reported a Seoul District Court sentenced CEO Jinwook Shin to seven years in prison. He was arrested on Aug. 7, 2023, and charged with fraud, forging and falsifying records, and obstructing a business via computer.
Bitsonic’s vice president of technology — reported only as Mr. A — was sentenced to one year in jail on a charge of obstructing a business via computer.
