Investor Fined For Physically Attacking Delio CEO Over Crypto Losses
A South Korean investor was fined for physically assaulting the CEO of collapsed crypto lender Delio after losing significant holdings in cryptocurrency. The assault is contributing to increasing fears of investor desperation as more collapses in the country’s digital asset sector continue.
Investor Broke Into CEO’s Home Over Unanswered Fund Recovery Questions
The perpetrator, who goes by Mr. A, is said to have lost 87 BTC and 190 ETH when Delio ceased operations in 2023. Frustrated with the silence, he went to see CEO Jeong Sang-ho at his home. An argument turned violent, and the police were called in.
A summary fine of 1.5 million won ($1,023) for breaking and entering and assault was issued to Mr. A. While punished, he can still appeal the judgment in court.
Historic Haru Invest CEO Attack Rekindles Worries
The attack follows an earlier more violent incident against Haru Invest, in which investor Kang stabbed CEO Lee Hyung-soo during a hearing hearing. Kang, who lost 100 BTC, faces attempted murder charges. Prosecutors are asking for a 10-year prison term, while his attorneys opt for lesser charges over financial struggles.
Authorities pursue unregistered exchanges, call for reform
To appease mounting investor unrest, South Korean regulators are clamping down on unregistered crypto exchanges. The Financial Intelligence Unit has referred several major foreign platforms, including KuCoin and BitMEX, for violating local rules. Blocks and further sanctions are under consideration.
Crypto’s Future in South Korea Remains Uncertain
With investor anger simmering and large exchanges coming under charges of fraud, South Korea’s crypto space is in the spotlight. While regulators tighten fingers and courts weigh, both players in the business and investors wait for more certain direction in a more volatile marketplace.
