PANews reported on January 23 that according to Digital Asset, South Korean prosecutors requested that the prison sentence of the major shareholder of quantitative trading company B&S Holdings be increased to 15 years in the appeal case. The person is currently sentenced to 10 years in prison for a cryptocurrency fraud case totaling 6 billion won (about 41.75 million US dollars).

The majority shareholder, surnamed Bang, was initially convicted of misappropriating funds from digital asset management platform Haru Invest and blockchain trading system developer Traum Infotech in August 2024. The mismanaged assets were originally entrusted to Traum Infotech by virtual asset deposit platform Delio for management. Unable to recover the funds, both Haru Invest and Delio had to suspend customer withdrawal services.

Investigators found that Bang invested most of the customer assets in the cryptocurrency exchange FTX. However, FTX declared bankruptcy in November 2022 due to poor management, resulting in the freezing of these assets.