'ZonburKim', the 80 Billion Won Crypto Fraudster, Re-arrested for 260 Billion Won Fraud

Released on Bail While on Trial for 80 Billion Won Fraud

Re-arrested After One Month for 260 Billion Won Fraud

'ZonburKim', who was released on bail while on trial for large-scale cryptocurrency market manipulation charges, has been re-arrested for fraud charges amounting to 260 billion won.

According to legal circles on the 21st, Judge Han Jung-seok of the Seoul Southern District Court issued an arrest warrant for Park yesterday, stating that "the criminal charges are serious and there are concerns about evidence destruction and flight risk." The cryptocurrency platform CEO Moon, who was identified as Park's accomplice, was also arrested.

According to prosecutors, Park is accused of fraudulently obtaining 260 billion won from investors by issuing and listing 'Atube,' a scam coin (fraudulent virtual asset), between March 2021 and April of the following year without any intention to conduct legitimate business. It is reported that Park's criminal proceeds obtained through false disclosure and market manipulation amounted to 68 billion won.

Park was indicted and detained last August for issuing and listing 'Podo,' a scam coin, but was released on bail on the 22nd of last month and was undergoing trial without detention. At that time, prosecutors estimated the amount of fraud to be around 80 billion won.

A representative from the Southern District Prosecutors' Office stated, "We will thoroughly investigate and strictly punish cryptocurrency criminal organizations that disrupt the trading order of the virtual asset market and create numerous victims."

Reporter Park Sion ushire908@hankyung.com