Delio CEO Sentenced to 15 Years for $49.2M Crypto Fraud

Seoul court jails Delio CEO for 15 years over misappropriation of 70 billion won from 1,078 victims, marking a major legal resolution in the platform's collapse.

Woofun AI reports that the Southern District Court of Seoul sentenced Jeong Sang-ho, CEO of cryptocurrency lending platform Delio, to 15 years in prison. The conviction stems from the misappropriation of approximately 70 billion won ($49.2 million) in client assets, with the court identifying 1,078 victims and highlighting the severity of the offense. Delio's operational failure followed a liquidity crisis triggered by Haru Invest's suspension of withdrawals in June 2023, leading to the platform's bankruptcy.