According to ChainCatcher, a South Korean anchor was sentenced to a heavy sentence for crypto asset fraud. On the 30th, the Seoul Eastern District Court sentenced Xu to 15 years in prison for fraudulently recommending crypto assets issued by his company.

In addition, Xu was also accused of embezzling more than 11 billion won and using company account funds to buy virtual gifts on AfreecaTV. The court determined that Xu had no intention of fulfilling his promise from the beginning and used the investment funds to repay personal debts.