PANews reported on April 30 that, according to Yonhap News Agency, South Korean prosecutors have sought a 20-year prison sentence for Chung Sang-ho, CEO of cryptocurrency lending service operator Delio, on charges of stealing approximately 250 billion won (about $190 million) in virtual assets from about 2,800 victims. Delio abruptly suspended withdrawals on June 14, 2023, after the company lured investors to deposit cryptocurrency assets with promises of high interest rates. Prosecutors stated that the defendant's aggressive fraudulent activities and false advertising resulted in a large number of victims and substantial losses, and that the defendant consistently evaded responsibility and remained uncooperative. Chung Sang-ho and his defense lawyer expressed a deep sense of responsibility and stated that if acquitted, they would do their utmost to compensate the victims. The first-instance verdict will be announced on July 16.