According to ChainCatcher, citing Cryptopolitan, the Busan District Court sentenced three cryptocurrency investment fraud perpetrators to prison for violating the Special Economic Crime Aggravated Punishment Act. The mastermind was sentenced to 4.5 years in prison, while two accomplices were sentenced to 3.5 and 2.5 years respectively. In June 2019, these three individuals conducted illegal cryptocurrency investment activities in a building in Busan, claiming to have an algorithm capable of trading from approximately 1,000 high-quality cryptocurrencies worldwide, and promising investors a 30% monthly return. In reality, they had no trading algorithm, and the approximately 610 million won (about $416,000) raised was used for personal expenses.