A South Korean court sentenced two prominent individuals for manipulating altcoin prices. Former CEO of Bithumb, Lee Sang-jun, received a two-year sentence, while pro golfer Ahn Sung-hyun was sentenced to four and a half years. Their actions significantly impacted market fairness and investor trust.
Lee accepted bribes of over 3 billion won and luxury items valued at 400 million won. Ahn misused 2 billion won for personal stock investments. These unethical practices, involving private businessman Kang Jong-hyun, further stirred controversies within the crypto community.