Seoul Court Acquits Crypto Influencer “Jonber Kim” Despite 20-Year Prison Sentence Request

A Seoul court has acquitted Park, a 45-year-old South Korean crypto influencer known as “Jonber Kim,” in a case involving an alleged fraudulent cryptocurrency manipulation scheme worth $253 million. Prosecutors had sought a 20-year prison sentence.

The acquittal came after prosecutors failed to establish a legal link between Park’s deceptive conduct and the financial losses suffered by token buyers. The court found insufficient evidence to prove that investors’ misperceptions were directly caused by Park’s actions, a requirement under South Korea’s anti-fraud law.

Park had built a large following under the nickname "Crypto King Jonber Kim" and was accused of leading a coordinated scheme to manipulate token prices and deceive retail investors. The case highlights the ongoing challenge prosecutors face in cryptocurrency fraud litigation: proving the causal link between an influencer's promotion and harm to investors within existing legal frameworks. #cryptouniverseofficial #cryptomonedas #Binance #influencer