South Korea's "Currency King" Jonbur Kim was acquitted of fraud charges; the amount involved was approximately $253 million

Korean cryptocurrency influencer Jonbur Kim (real name Park, nicknamed “Bit King”) was recently found not guilty of fraud by the Southern Seoul District Court. This news was first reported by South Korean media Digital Asset, and later cited by The Block. The case involved alleged cryptocurrency fraud involving an amount of approximately 340 billion Korean won (equivalent to about 253 million US dollars). In its ruling on Thursday, the court stated that the prosecution failed to provide sufficient evidence to support the criminal charges. Previously, Jonbur Kim was accused of engaging in fraudulent token issuance, listing tokens on exchanges, false information disclosure, and price manipulation. The tokens involved included Podo Coin and Artube.