Executives who helped the bogus crypto alternate V World dupe some 50,000 prospects out of some $1.4 billion won’t go to jail.
A South Korean court docket as a substitute handed the three unnamed people suspended sentences. It issued fines, regardless of conceding that they had prompted “astronomical damages.”
The South Korean newspaper Seoul Shinmun and the information company Yonhap reported on September 14, that the Prison Division of the Daejeon District Court docket’s Cheonan Department handed judgment on three people convicted of violating the Act on the Aggravated Punishment of Particular Financial Crimes.
The presiding choose sentenced all three of the officers to 3 years in jail (suspended). The court docket additionally ordered them to serve 5 years of probation.
The trio’s names had been withheld for authorized causes. The court docket additionally ordered the primary particular person, known as A (a 61-year-old girl), to pay a 660 million gained ($474,000) positive.
The choose additionally ordered B (63, additionally feminine) to pay a 426 million gained positive ($306,000). A person recognized as C (aged 57) was ordered to pay 259 million gained ($186,000).
V World Crypto Trade: Fines, Suspended Sentences, and Probation Orders
The trio, prosecutors instructed the court docket, occupied prime positions in organizations that used multi-level advertising and marketing strategies. They had been tasked with luring prospects to the V World platform.
Their efforts earned them as much as 1.5 billion gained ($1.1 million) every in earnings, prosecution officers instructed the court docket. In sentencing, the presiding choose stated:
“The defendants prompted astronomical harm by exploiting widespread curiosity in cryptoassets. Over 50,000 victims are nonetheless residing with the financial and psychological ache of this crime. The harm finished to society is appreciable. A strict punishment known as for.”
However the choose added that the executives did be sure that a number of the victims acquired payouts and the “earnings” that they had been promised.
The Supreme Court docket jailed Lee (given title withheld for authorized causes), the CEO of V World, for 25 years for masterminding the faux alternate again in 2023.
A Marine Corps sergeant died Saturday after being shot within the head at a unit on an island off the nation's west coast, navy officers stated.https://t.co/maMKtNNgRc
— The Korea Instances (@koreatimescokr) September 13, 2025
A Veneer of Authenticity
The CEO and his employees created a realistic-looking buying and selling platform, designed to resemble bona fide South Korean exchanges like Upbit and Bithumb.
The platform featured real-time value charts for cash like Bitcoin (BTC) and Ethereum (ETH), in addition to coin tickers and realistic-looking buying and selling quantity tables.
The V World alternate used a “tiered membership system” that integrated superior multi-layered advertising and marketing strategies.
Its operators provided members payouts in V World-branded tokens in the event that they “recruited new members.”
However the courts later decided that these cash had been simply as faux because the alternate itself, and had by no means launched on any blockchain protocol.
South Korean courts have additionally jailed different senior V World executives. One particular person is at the moment serving a 14-year sentence. One other, in the meantime, is coming towards the top of a four-year jail time period.
V World launched in mid-2020. However the rouse started to unravel in 2021, when disgruntled prospects filed authorized complaints, stating that they may not withdraw their belongings from the alternate.
At its peak, the bogus alternate operated from a constructing within the coronary heart of Seoul’s busy business district.
The district is dwelling to a number of the nation’s largest crypto exchanges and most outstanding blockchain know-how startups.
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