🇰🇷 Crypto exchange CEO sentenced to 3-year jail term for faking trading volume

CEO of Korean cryptocurrency exchange Komid, along with a team member, were sentenced to three and two years jail respectively for faking trade volumes and deceiving investors. CEO Hyunsuk Choi was found guilty of using fake accounts and trading bots to undertake millions of transactions resulting in $45 million worth of fees in Jan. 2018 as well as embezzling funds through Bitcoin ($BTC) transfers to a personal wallet.