‘Coin King’ Jonbur Kim Cleared of $253M Crypto Fraud
Photo: DeFi Planet
In December 2023, South Korean authorities captured Park, a cryptocurrency influencer known online as “Coin King Jonbur Kim”, as he attempted to flee the country on a fishing boat to avoid a financial investigation. After serving several months in prison for that smuggling attempt, authorities rearrested Park in February 2025. Prosecutors accused him of orchestrating a massive market manipulation scheme using digital tokens like Podo Coin and Artube, eventually demanding a 20-year prison sentence. The government claimed Park bribed exchange executives, published fake project updates, and artificially inflated token prices before selling his holdings to unsuspecting retail buyers.
Source: DeFi Planet
