The former chairman of Bithumb could face up to eight years in prison for a $70 million fraud

According to BlockBeats news, on October 26, according to Yonhap News agency, Lee Jung-hoon, the former chairman of South Korean crypto trading platform Bithumb Holdings, could face up to eight years in prison for allegedly defrauding the company of 100 billion won ($70 million). The trial will be held at the Seoul District Court on October 25, and the final ruling will be made on December 20.