According to CoinMeta, as reported by digital and asset, the Goyang Branch of the South Korean National Court of Justice rendered a verdict in a case involving fraudulent cryptocurrency investment scams totaling approximately 501 million Korean won (about $375,000). The individuals involved in money laundering were found to have violated laws such as the "Virtual Asset Users Protection Act" and were sentenced to two years and six months in prison. This is reported to be the first time in South Korea that a court has issued a guilty verdict based on this act in a case that was not referred by financial regulatory authorities. The scamming gang used fake investment websites to lure victims into purchasing unlisted tokens that did not actually exist, promising high returns after they were listed, and defrauded a total of 14 victims of their funds. The trial for this case concluded in July of this year, and the appeal in October was dismissed; the judgment is now final.