Founder of Crypto Credit Platform Delio Sentenced to 15 Years

cryptonews.ruPubblicato 2026-08-13Pubblicato ultima volta 2026-08-13

Introduzione

The founder of the South Korean crypto lending platform Delio, Sang Ho, has been sentenced to 15 years in prison. He was found guilty of misappropriating client assets and using forged documents to register the company as a virtual asset service provider. Prosecutors had initially sought a 20-year sentence for defrauding approximately 2,800 people of around 250 billion won ($175.6 million), but the court dismissed the most significant fraud charge due to evidence it deemed unlawfully obtained. Nevertheless, the court recognized the severity of his financial crimes and ordered his detention to prevent flight risk. Delio, which positioned itself as a digital bank promising high returns on crypto deposits, suddenly halted withdrawals in June 2023, leaving depositors locked out. The platform was declared bankrupt in November 2024. This case occurs amidst South Korean regulatory actions, including plans to ban stablecoin interest payments and a separate lawsuit against the organizers of the CatFi memecoin scheme.

The court found the founder of Delio guilty of embezzling client assets and using forged documents to register the company as a virtual asset service provider. Previously, the prosecution had requested 20 years in prison for Sang-ho, but the court reduced the sentence to 15 years, acquitting him on the most significant charge brought by the prosecution. Law enforcement claimed that the man deceived about 2,800 people out of 250 billion won ($175.6 million).

However, the court stated that the evidence gathered during searches for this charge was questionable and obtained illegally—during a search involving the server operator. The court excluded this evidence from consideration in the case but acknowledged the seriousness of the defendant's financial crimes. The court also ordered the entrepreneur to be taken into custody to prevent him from fleeing law enforcement.

The Delio platform positioned itself as a digital bank, promising clients stable and high returns from cryptocurrency deposits. In June 2023, Delio suddenly suspended withdrawals, leaving thousands of depositors without access to their savings. In November 2024, the platform was declared bankrupt.

Last year, South Korea's Financial Services Commission (FSC) promised to ban interest payments on stablecoins to prevent a massive outflow of funds from bank deposits. In May, South Korean prosecutors indicted the organizers of the CatFi memecoin scheme, which caused investor losses exceeding $650,000.

Domande pertinenti

QWhat was the founder of Delio convicted of?

AThe founder of Delio was convicted of misappropriating client assets and using forged documents to register the company as a virtual asset service provider.

QWhat was the original prison sentence demanded by prosecutors for Sang Ho, and what was the final sentence given?

AProsecutors demanded a 20-year prison sentence for Sang Ho, but the court reduced the punishment to 15 years.

QHow many people and what amount of money were allegedly defrauded by the Delio founder according to law enforcement?

AAccording to law enforcement, the man allegedly defrauded about 2,800 people for a sum of 250 billion won (approximately $175.6 million).

QWhat actions did the Delio platform take in June 2023 that affected its clients?

AIn June 2023, the Delio platform suddenly suspended withdrawals, leaving thousands of depositors without access to their savings.

QWhat happened to the Delio platform in November 2024?

AIn November 2024, the Delio platform was declared bankrupt.

Letture associate

Trezor Announces Data Leak of Over 13,000 Customers Due to ShipMonk Hack

Trezor has reported a data breach affecting 13,689 of its customers due to a hack of its logistics partner, ShipMonk. The incident impacted customers in the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal who received orders in the 90 days prior to August 8th. Trezor emphasized its own systems and devices were not compromised, but the leaked data could facilitate more sophisticated phishing attacks against affected users. Full data for 11,742 customers was exposed, including name, email, phone number, and delivery address. Partial data (name, city, and email) for 1,947 others was also accessed. ShipMonk stored the delivery information, and Trezor noted the incident was limited by ShipMonk's policy to delete or anonymize order data 90 days after delivery. This is Trezor's first breach since 2013 involving customer phone numbers and physical addresses. Private keys, wallet backups, and devices remain secure. All affected customers have been notified. Trezor is investigating with ShipMonk, which has secured the affected systems. In response, Trezor announced plans for an anonymous delivery feature in the EU by September 2026 and in the US by year-end, aiming to minimize personal data collection through pseudonyms, automated pickup points, and post-delivery data deletion.

cryptonews.ru33 min fa

Trezor Announces Data Leak of Over 13,000 Customers Due to ShipMonk Hack

cryptonews.ru33 min fa

Ukraine Urged Not to Push Crypto Business Abroad

On August 13, Alexey Semenyuk, head of Ukraine's National Securities and Stock Market Commission, emphasized that regulating the crypto market must protect users while preserving the benefits for businesses operating legally in the country. He argued the key questions are where this business is legally based, pays taxes, and how Ukrainian users are protected. Citing Chainalysis's 2024-2025 data, Ukraine ranks high in global crypto adoption, with a 52% annual increase in received digital assets, reaching $206.3 billion. Semenyuk stated that legalization should allow Ukrainians to use authorized service providers and enable companies to operate domestically under clear rules for activities like buying, selling, exchanging, storing, and staking cryptocurrencies. He highlighted that users need to know who provides the service, if they are authorized, the rules they must follow, and where to seek redress. He also pointed to the tokenization of real-world assets (RWA) as a strategic direction, aiming to merge virtual asset technologies with traditional finance for new investment products and capital-raising models. A separate challenge is the interaction between crypto companies and banks, which requires a legal market framework to resolve. Semenyuk stressed the need for a balanced approach: excessive softness risks users, while over-regulation could push businesses abroad. The goal is a regulated market where one can legally work, invest, and launch products while being protected. In September 2025, the Ukrainian parliament approved in its first reading a draft law "On Virtual Asset Markets" to define the status and taxation of crypto assets.

cryptonews.ru34 min fa

Ukraine Urged Not to Push Crypto Business Abroad

cryptonews.ru34 min fa

Fidelity Withdraws $46.8 Million from FBTC Amid Bitcoin ETF Price Declines

The mid-week session saw another shift in cryptocurrency ETF flow dynamics. Bitcoin once again lost ground due to resurgent share redemptions in two of the market's largest funds, while Ethereum quietly attracted fresh capital. Smaller altcoin categories remained unchanged. Bitcoin ETFs recorded a net outflow of $61.16 million, entirely attributable to Fidelity and BlackRock. Fidelity's FBTC saw a larger outflow of $46.82 million, and BlackRock's IBIT added $14.34 million to the outflow. No other Bitcoin ETF reported a net inflow. This offset a modest inflow from the previous day, exacerbating the volatile demand pattern seen throughout the week. In contrast, Ethereum ETFs finished the session with a net inflow of $7.38 million. Fresh capital primarily went into BlackRock's ETHA fund, providing a net gain after two days of weak or negative flows earlier in the week. The modest inflow occurred during a session where Bitcoin funds faced renewed pressure from the two major issuers. Activity in other segments was muted. ETFs for Solana, XRP, and HYPE recorded zero net flows for the day. The data indicated institutional demand for cryptocurrencies remained selective and restrained, with Bitcoin experiencing the most volatility, Ethereum attracting some incremental capital, and the altcoin ETF market largely on the sidelines.

cryptonews.ru35 min fa

Fidelity Withdraws $46.8 Million from FBTC Amid Bitcoin ETF Price Declines

cryptonews.ru35 min fa

Lack of Exact Date Creates Chaos Around Next SpaceX Stock Unlock

The absence of a precise date has created confusion around the next unlock of SpaceX shares, with major financial publications reporting conflicting dates for the release of up to 319 million additional shares. Motley Fool suggested August 21, CNBC cited August 20, a SpaceX tracking site mentioned approximately August 21, 2026, while Quartz (citing Barron's), TechTimes, and TradingKey pointed to August 12. The earliest guess of August 12 has already been disproven, as no increase in float occurred. The prospectus states the release is scheduled for the "70th day after the date of this prospectus." With SpaceX pricing its IPO on June 11, 2026, adding 70 days results in August 20. The discrepancy highlights the unusual and large-scale nature of this phased share lock-up, as noted by an investment firm executive. The exact timing and final number of shares (up to 319 million, excluding those held by affiliates) remain points of uncertainty.

cryptonews.ru36 min fa

Lack of Exact Date Creates Chaos Around Next SpaceX Stock Unlock

cryptonews.ru36 min fa

US National Debt Set to Break WWII Record Soon

According to the U.S. Congressional Budget Office, the national debt of the United States is approaching the record levels seen in 1946 and is projected to exceed that peak in 2030. The total debt currently stands at approximately $39.9 trillion. This figure includes securities held in federal accounts, which were not counted in the World War II-era debt calculations. The CBO forecasts the debt will reach 101% of GDP by the end of fiscal year 2026, surpass the 1946 peak of 106% shortly after, and climb to 120% by 2036. The current debt situation differs significantly from the post-World War II period. In 1944, wartime spending peaked at 42.7% of GDP but fell to 14% by 1949 as mobilization ended, aiding debt reduction. Today, there is no clear end date for high spending pressures. The CBO's latest projections estimate spending at 24.4% of GDP and revenues at 17.8% in 2036. The sustained spending growth is largely driven by rising costs for social security and healthcare benefits, fueled by an aging population. The number of Americans aged 65 and older is nearly three times greater than 50 years ago and is expected to increase by another 15% between 2027 and 2036.

cryptonews.ru37 min fa

US National Debt Set to Break WWII Record Soon

cryptonews.ru37 min fa

Trading

Spot