{"id":2837,"date":"2022-10-07T08:51:27","date_gmt":"2022-10-07T08:51:27","guid":{"rendered":"https://uk20201.com/blog\/?p=2837"},"modified":"2022-10-07T08:51:28","modified_gmt":"2022-10-07T08:51:28","slug":"crypto-fraudster-who-swindled-victims-out-of-bitcoin-and-eth","status":"publish","type":"post","link":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/","title":{"rendered":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH"},"content":{"rendered":"
\n
\"Crypto\"<\/figure><\/div>\n\n\n

A South Korean crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year jail sentence.<\/p>\n\n\n\n

Chosun reported that the man (33), identified only by his surname Han, was sentenced by the Criminal Division of the Seoul Central District Court. The court also fined Han around $700,000.<\/p>\n\n\n\n

The court heard that Han had claimed to have created a blockchain-powered platform for webtoons \u2013 web-based cartoon strips \u2013 in April 2019. Webtoons are extremely popular in South Korea, and have grown into a multi-billion-dollar industry.<\/p>\n\n\n\n

Han created a firm to back this project, and the company apparently went on to create a cryptoasset. Han claimed that this token would become the sole currency that could be used on the platform. The court heard that he told investors in his project that the firm was seeking to have the coin listed on a major crypto exchange \u2013 and that this would see its worth rise 10 times higher than its current level.<\/p>\n\n\n\n

The hitch in all of this, the court heard, was that there was no platform \u2013 just empty promises. Prosecutors explained that Han lacked both the \u201cability and the intention to develop a platform\u201d or \u201clist a cryptoasset.\u201d Thirty victims were drawn in by Han\u2019s rouse, however \u2013 and backed him with BTC, ETH, and fiat KRW funds.<\/p>\n\n\n\n

The court ruled that Han\u2019s claims to be able to boost the coin\u2019s price by seeking a listing amounted to \u201cinvestment fraud.\u201d<\/p>\n\n\n\n

Crypto-Fraudster Gathered BTC, ETH, Was \u2018Indifferent to Victims\u2019<\/h2>\n\n\n\n

Han appears to have continued attracting investors paying BTC and ETH until the police stepped in to investigate the platform last year.<\/p>\n\n\n\n

The presiding judge stated that Han had sought to \u201cspeculative fever\u201d in the project\u2019s group chatrooms and that he had shown \u201cindifference\u201d to his \u201cvictims.\u201d<\/p>\n\n\n\n

But the judge also criticized the victims, castigating them for backing \u201ca business based on new technologies without looking closely at the reality of the situation.<\/p>\n\n\n\n

The judge added:<\/p>\n\n\n\n

\u201c[The victims] made extremely high-risk investments in pursuit of high returns that would be difficult to achieve in a fair manner on the [cryptoasset] market.\u201d<\/em><\/p>\n\n\n\n

The government earlier this month stated that it had\u00a0traced $1 billion worth of fraudulent crypto transactions\u00a0thus far in 2022.<\/p>\n\n\n\n

U.TOWN\uff1ahttps:\/\/u.town\/en<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A South Korean crypto fraudster who duped victims out o […]<\/p>\n","protected":false},"author":1,"featured_media":2839,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[488],"tags":[416,415],"yoast_head":"\nCrypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN<\/title>\n<meta name=\"description\" content=\"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN\" \/>\n<meta property=\"og:description\" content=\"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year\" \/>\n<meta property=\"og:url\" content=\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\" \/>\n<meta property=\"og:site_name\" content=\"U.TOWN\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-07T08:51:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-07T08:51:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/10\/image-8.png\" \/>\n\t<meta property=\"og:image:width\" content=\"554\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin1\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9810\u4f30\u95b1\u8b80\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\u9418\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#article\",\"isPartOf\":{\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\"},\"author\":{\"name\":\"admin1\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528\"},\"headline\":\"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH\",\"datePublished\":\"2022-10-07T08:51:27+00:00\",\"dateModified\":\"2022-10-07T08:51:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\"},\"wordCount\":391,\"publisher\":{\"@id\":\"https://uk20201.com/blog\/#organization\"},\"keywords\":[\"Crypto\",\"u.town\"],\"articleSection\":[\"blockchain\"],\"inLanguage\":\"zh-TW\"},{\"@type\":\"WebPage\",\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\",\"url\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\",\"name\":\"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN\",\"isPartOf\":{\"@id\":\"https://uk20201.com/blog\/#website\"},\"datePublished\":\"2022-10-07T08:51:27+00:00\",\"dateModified\":\"2022-10-07T08:51:28+00:00\",\"description\":\"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year\",\"breadcrumb\":{\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#breadcrumb\"},\"inLanguage\":\"zh-TW\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u9996\u9801\",\"item\":\"https://uk20201.com/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH\"}]},{\"@type\":\"WebSite\",\"@id\":\"https://uk20201.com/blog\/#website\",\"url\":\"https://uk20201.com/blog\/\",\"name\":\"U.TOWN\",\"description\":\"USDT Casino\",\"publisher\":{\"@id\":\"https://uk20201.com/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://uk20201.com/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"zh-TW\"},{\"@type\":\"Organization\",\"@id\":\"https://uk20201.com/blog\/#organization\",\"name\":\"U.TOWN\",\"url\":\"https://uk20201.com/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-TW\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/logo\/image\/\",\"url\":\"https://uk20201.com/blog\/wp-content\/uploads\/2021\/12\/utown_en.png\",\"contentUrl\":\"https://uk20201.com/blog\/wp-content\/uploads\/2021\/12\/utown_en.png\",\"width\":1942,\"height\":760,\"caption\":\"U.TOWN\"},\"image\":{\"@id\":\"https://uk20201.com/blog\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528\",\"name\":\"admin1\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-TW\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2f26f30d1b89e6b056391fd3e26b7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1ef2f26f30d1b89e6b056391fd3e26b7?s=96&d=mm&r=g\",\"caption\":\"admin1\"},\"sameAs\":[\"http:\/\/172.104.169.106\"],\"url\":\"https://uk20201.com/blog\/author\/admin1\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN","description":"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"zh_TW","og_type":"article","og_title":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN","og_description":"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year","og_url":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/","og_site_name":"U.TOWN","article_published_time":"2022-10-07T08:51:27+00:00","article_modified_time":"2022-10-07T08:51:28+00:00","og_image":[{"width":554,"height":369,"url":"https://uk20201.com/blog\/wp-content\/uploads\/2022\/10\/image-8.png","type":"image\/png"}],"author":"admin1","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin1","\u9810\u4f30\u95b1\u8b80\u6642\u9593":"3 \u5206\u9418"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#article","isPartOf":{"@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/"},"author":{"name":"admin1","@id":"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528"},"headline":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH","datePublished":"2022-10-07T08:51:27+00:00","dateModified":"2022-10-07T08:51:28+00:00","mainEntityOfPage":{"@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/"},"wordCount":391,"publisher":{"@id":"https://uk20201.com/blog\/#organization"},"keywords":["Crypto","u.town"],"articleSection":["blockchain"],"inLanguage":"zh-TW"},{"@type":"WebPage","@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/","url":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/","name":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH - U.TOWN","isPartOf":{"@id":"https://uk20201.com/blog\/#website"},"datePublished":"2022-10-07T08:51:27+00:00","dateModified":"2022-10-07T08:51:28+00:00","description":"crypto fraudster who duped victims out of some $1.7 million worth of\u00a0bitcoin (BTC),\u00a0ethereum (ETH), and fiat has been handed a five-year","breadcrumb":{"@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#breadcrumb"},"inLanguage":"zh-TW","potentialAction":[{"@type":"ReadAction","target":["https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/"]}]},{"@type":"BreadcrumbList","@id":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2837\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u9996\u9801","item":"https://uk20201.com/blog\/"},{"@type":"ListItem","position":2,"name":"Crypto Fraudster Who Swindled Victims out of Bitcoin and ETH"}]},{"@type":"WebSite","@id":"https://uk20201.com/blog\/#website","url":"https://uk20201.com/blog\/","name":"U.TOWN","description":"USDT Casino","publisher":{"@id":"https://uk20201.com/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://uk20201.com/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"zh-TW"},{"@type":"Organization","@id":"https://uk20201.com/blog\/#organization","name":"U.TOWN","url":"https://uk20201.com/blog\/","logo":{"@type":"ImageObject","inLanguage":"zh-TW","@id":"https://uk20201.com/blog\/#\/schema\/logo\/image\/","url":"https://uk20201.com/blog\/wp-content\/uploads\/2021\/12\/utown_en.png","contentUrl":"https://uk20201.com/blog\/wp-content\/uploads\/2021\/12\/utown_en.png","width":1942,"height":760,"caption":"U.TOWN"},"image":{"@id":"https://uk20201.com/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528","name":"admin1","image":{"@type":"ImageObject","inLanguage":"zh-TW","@id":"https://uk20201.com/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1ef2f26f30d1b89e6b056391fd3e26b7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1ef2f26f30d1b89e6b056391fd3e26b7?s=96&d=mm&r=g","caption":"admin1"},"sameAs":["http:\/\/172.104.169.106"],"url":"https://uk20201.com/blog\/author\/admin1\/"}]}},"_links":{"self":[{"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/posts\/2837"}],"collection":[{"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/comments?post=2837"}],"version-history":[{"count":1,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/posts\/2837\/revisions"}],"predecessor-version":[{"id":2840,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/posts\/2837\/revisions\/2840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/media\/2839"}],"wp:attachment":[{"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/media?parent=2837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/categories?post=2837"},{"taxonomy":"post_tag","embeddable":true,"href":"https://uk20201.com/blog\/wp-json\/wp\/v2\/tags?post=2837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}