Coin King Jonbur Kim acquitted of fraud charges in $253M scam
Summary
South Korean crypto figure "Coin King Jonbur Kim," whose real last name is Park, was found not guilty of fraud charges related to a 340 billion KRW ($253 million) crypto scam, as reported by local news outlet Digital Asset. The Seoul Southern District Court determined that prosecutors did not provide sufficient evidence to prove the allegations, which included fraudulent issuance and price manipulation of scam coins such as Podo Coin and Artube. This case highlights the stringent judicial standards in South Korea, where courts require a high level of evidence for crypto-related fraud prosecutions, particularly under laws like the Virtual Asset User Protection Act, aimed at combating virtual asset crimes.
Analysis
Artube: A blockchain-based digital media platform and associated token (ATT) focused on webtoon content, creator participation, and ecosystem incentives through its own token and related mechanisms. It became the subject of prosecutorial claims in South Korea regarding fraudulent issuance, listing, disclosures, and price manipulation linked to influencer Coin King Jonbur Kim. Podo Coin: A cryptocurrency project that featured in South Korean fraud investigations against influencer Coin King Jonbur Kim. Prosecutors alleged involvement in its fraudulent issuance, listing on exchanges, false disclosures, and price manipulation as part of broader scam coin activities. The project has been central to legal scrutiny of virtual asset schemes in the country. Coin King Jonbur Kim: South Korean crypto influencer and market maker widely known by the nickname 'Coin King Jonbur Kim,' with the real surname Park. He has faced multiple legal proceedings in South Korea over allegations involving the issuance, listing, and promotion of cryptocurrencies. The Seoul Southern District Court recently acquitted him of fraud charges tied to Podo Coin and Artube due to insufficient evidence from prosecutors. Judicial Standard: South Korean courts require prosecutors to present sufficient evidence to prove crypto-related fraud beyond reasonable doubt in cases involving alleged scam coins. Regulatory Environment: South Korea has actively prosecuted virtual asset crimes under laws including the Virtual Asset User Protection Act, focusing on price manipulation and misleading promotions in the crypto sector.
Categories
cryptopolitics
Related sources
- https://cryptonews.com/news/ex-south-korean-first-lady-kim-keon-hee-faces-crypto-market-maker-probe/
- https://www.youtocoin.com/coin/podo
- https://en.bloomingbit.io/feed/news/121945
- https://x.com/fkemgod/status/2110618521973707094
- https://www.dimsumdaily.hk/south-korean-prosecutors-arrest-crypto-market-maker-jon-bur-kim-on-new-scam-charges/
- https://www.artube.video/whitepaper.html
- https://coinmarketcap.com/currencies/podo/
- https://www.blockhead.co/2026/08/14/south-korea-sentences-delio-ceo-to-15-years-acquits-him-of-bigger-fraud-charge/
- https://bitscreener.com/coins/artube
- https://en.fnnews.com/news/202609041716147369
- https://cryptorank.io/price/podo-point
- https://finance.yahoo.com/quote/ATT15918-USD/profile/
- https://biz.chosun.com/en/en-society/2026/02/04/GAZPSISYKFDE5EXJKVYOPANLHU/
- https://cryptonews.com/news/south-korea-jonbur-kim-park-coin-king-rearrested
- https://www.coincarp.com/currencies/artube/
- https://cryptonews.com/news/south-korean-prosecutors-request-crypto-market-maker-arrest-warrant-in-altcoin-fraud-case/
- http://cryptonews.net/news/security/30562599/
- https://www.bitdegree.org/cryptocurrency-prices/power-of-deep-ocean-podo-price
- https://www.bitget.com/price/podo/whitepaper
- https://coinmarketcap.com/currencies/artube/