'Coin King Jonbeokim' additionally indicted on Podocoin fraud charges

Damage Amounting to Approximately 200 Million KRW Confirmed

The prosecution has additionally indicted 'Coin King Jonbeokim,' who was previously brought to trial on charges of manipulating the market price through the issuance of Podocoin, on fraud charges.

On the 25th, the Major Economic Crime Investigation Division of the Seoul Southern District Prosecutors' Office (Chief Park Cheolwan) announced that Jonbeokim, Park (44), who is accused of fraud, was additionally indicted on the 5th of this month. The prosecution stated, "Podocoin, a virtual currency with no actual intention to conduct business, was issued, resulting in damages amounting to 200 million KRW."

Previously, Park was arrested and indicted last August on charges of embezzling 80.9 billion KRW in investment funds after issuing the scam coin Podocoin from February 2021 to April 2022, but was released on bail on the 22nd of last month. Subsequently, Park was re-arrested on the 21st on charges of pocketing approximately 2,600 KRW through the issuance of another scam coin, Atoobecoin, from March 2021 to April 2022.