Former South Korean lawmaker will get 6-months in jail for mendacity about cryptocurrency belongings

Former South Korean lawmaker will get 6-months in jail for mendacity about cryptocurrency belongings

Ex-member of South Korea’s Democratic Social gathering imprisoned for concealing 10 billion received in cryptocurrency belongings.

Kim Nam-kook, a former legislator for the Democratic Social gathering of Korea, was discovered responsible of hiding cryptocurrency holdings whereas he was a member of the Nationwide Meeting and was given a jail sentence of six months. The choice was made on the morning of Oct. 28, 2024, at Kim’s trial within the Southern District Court docket in Yangcheon-gu, Seoul.

Kim was charged with altering some of his cryptocurrency deposits into financial institution accounts to correspond with the claimed whole belongings whereas changing the relaxation of the funds again into cryptocurrency to hinder the NationalAssembly Ethics Committee’s investigation of property modifications.

He reportedly used this technique to conceal vital cryptocurrency funding earnings from 2021 and  2022 asset stories.

The estimated 10 billion received value of cryptocurrencies held by the previous politician got here underneath intense scrutiny from the general public, sparking questions on transparency and accountability within the authorities. In a case that has garnered a variety of curiosity in South Korea, Kim’s punishment represents a big transfer.

The case brings to mild present discussions round asset disclosure legal guidelines and the ethical obligations of public servants in terms of overseeing investments, particularly in growing monetary markets resembling cryptocurrency.

Supply hyperlink

bitcoin
Bitcoin (BTC) $ 97,519.13 0.65%
ethereum
Ethereum (ETH) $ 2,717.70 1.39%
xrp
XRP (XRP) $ 2.75 7.42%
tether
Tether (USDT) $ 1.00 0.00%
solana
Solana (SOL) $ 198.10 1.07%
bnb
BNB (BNB) $ 656.07 2.39%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.272247 2.76%
cardano
Cardano (ADA) $ 0.795844 0.97%
staked-ether
Lido Staked Ether (STETH) $ 2,716.57 1.50%
tron
TRON (TRX) $ 0.231162 1.84%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,259.06 0.55%
chainlink
Chainlink (LINK) $ 19.31 3.86%
sui
Sui (SUI) $ 3.54 1.26%
avalanche-2
Avalanche (AVAX) $ 26.42 3.36%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,237.66 1.41%
stellar
Stellar (XLM) $ 0.351887 4.10%
shiba-inu
Shiba Inu (SHIB) $ 0.000017 2.18%
the-open-network
Toncoin (TON) $ 3.85 2.73%
hedera-hashgraph
Hedera (HBAR) $ 0.230368 1.92%
litecoin
Litecoin (LTC) $ 125.36 1.09%
leo-token
LEO Token (LEO) $ 9.81 0.26%
hyperliquid
Hyperliquid (HYPE) $ 26.15 1.20%
usds
USDS (USDS) $ 1.00 0.00%
weth
WETH (WETH) $ 2,716.52 1.43%
polkadot
Polkadot (DOT) $ 5.15 0.14%
mantra-dao
MANTRA (OM) $ 7.25 27.51%
bitcoin-cash
Bitcoin Cash (BCH) $ 342.21 1.68%
bitget-token
Bitget Token (BGB) $ 5.50 1.01%
uniswap
Uniswap (UNI) $ 10.00 1.05%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.09%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,879.83 1.49%
pepe
Pepe (PEPE) $ 0.00001 5.17%
monero
Monero (XMR) $ 230.15 1.82%
official-trump
Official Trump (TRUMP) $ 21.25 32.81%
ondo-finance
Ondo (ONDO) $ 1.32 0.25%
near
NEAR Protocol (NEAR) $ 3.52 4.53%
aave
Aave (AAVE) $ 260.83 2.26%
whitebit
WhiteBIT Coin (WBT) $ 27.07 0.48%
aptos
Aptos (APT) $ 6.07 1.14%
mantle
Mantle (MNT) $ 1.04 0.14%
dai
Dai (DAI) $ 1.00 0.00%
internet-computer
Internet Computer (ICP) $ 7.20 0.59%
susds
sUSDS (SUSDS) $ 1.04 0.03%
bittensor
Bittensor (TAO) $ 387.27 0.36%
ethereum-classic
Ethereum Classic (ETC) $ 21.34 0.62%
okb
OKB (OKB) $ 51.56 0.00%
gatechain-token
Gate (GT) $ 23.59 2.44%
vechain
VeChain (VET) $ 0.035184 1.83%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.322609 1.35%
kaspa
Kaspa (KAS) $ 0.105967 3.89%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 97,395.09 0.68%
algorand
Algorand (ALGO) $ 0.294725 0.39%
crypto-com-chain
Cronos (CRO) $ 0.0909 0.43%
jupiter-exchange-solana
Jupiter (JUP) $ 0.939492 7.85%
render-token
Render (RENDER) $ 4.71 3.88%
tokenize-xchange
Tokenize Xchange (TKX) $ 30.39 3.29%
filecoin
Filecoin (FIL) $ 3.51 2.97%
cosmos
Cosmos Hub (ATOM) $ 4.96 0.60%
arbitrum
Arbitrum (ARB) $ 0.494598 1.62%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.806996 3.78%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.02%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 97,505.12 0.82%
sonic-3
Sonic (prev. FTM) (S) $ 0.550275 2.39%
fasttoken
Fasttoken (FTN) $ 3.94 0.04%
celestia
Celestia (TIA) $ 3.17 3.46%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,716.02 2.04%
lido-dao
Lido DAO (LDO) $ 1.83 7.94%
raydium
Raydium (RAY) $ 5.60 7.20%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 204.93 1.09%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,817.52 1.56%
xdce-crowd-sale
XDC Network (XDC) $ 0.099382 5.73%
optimism
Optimism (OP) $ 1.15 2.49%
kucoin-shares
KuCoin (KCS) $ 12.25 1.23%
ethena
Ethena (ENA) $ 0.479115 6.52%
blockstack
Stacks (STX) $ 0.983238 2.56%
injective-protocol
Injective (INJ) $ 15.19 0.08%
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 97,098.02 0.77%
bonk
Bonk (BONK) $ 0.000019 5.28%
movement
Movement (MOVE) $ 0.59415 7.95%
immutable-x
Immutable (IMX) $ 0.815561 1.88%
theta-token
Theta Network (THETA) $ 1.41 1.82%
quant-network
Quant (QNT) $ 96.08 4.85%
nexo
NEXO (NEXO) $ 1.37 3.13%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,045.81 1.37%
the-graph
The Graph (GRT) $ 0.14205 0.87%
worldcoin-wld
Worldcoin (WLD) $ 1.29 4.67%
flare-networks
Flare (FLR) $ 0.021453 1.36%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,868.28 1.38%
usual-usd
Usual USD (USD0) $ 0.997548 0.06%
jasmycoin
JasmyCoin (JASMY) $ 0.023054 3.67%
sei-network
Sei (SEI) $ 0.241374 2.63%
gala
GALA (GALA) $ 0.024251 4.29%
dexe
DeXe (DEXE) $ 18.13 1.59%
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 96,475.85 0.66%
eos
EOS (EOS) $ 0.665067 3.14%
the-sandbox
The Sandbox (SAND) $ 0.405729 2.46%
msol
Marinade Staked SOL (MSOL) $ 250.96 1.16%
floki
FLOKI (FLOKI) $ 0.000099 2.35%
tezos
Tezos (XTZ) $ 0.914855 2.05%
Scroll to Top