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{"actor":"system:backfill","investigation_id":"1fc1cda1-0ced-4f86-9d30-02c3292053c2","kind":"publish","page_slug":"delio-south-korea-crypto-lender-fraud","published_at":"2026-05-27T18:39:43.196Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Delio (South Korea Crypto Lender Fraud)","sections":[{"content":"Delio was founded in 2018 by CEO Jeong Sang-ho and operated as a South Korean digital asset financial services company, positioning itself as a 'crypto bank' bridging centralized finance (CeFi) and decentralized finance (DeFi). In 2022, Delio became the first company of its kind in South Korea to obtain a Virtual Asset Service Provider (VASP) license from the Korea Financial Intelligence Unit (KoFIU), authorizing it to operate as a crypto lending and depositing service provider. The platform offered deposit services promising yields of up to 10.7% APR on assets including Bitcoin, Ether, and USDT, and also operated Delioswap, a decentralized exchange. At peak operations, the company managed approximately $1.3 billion in digital assets, including 41,743 BTC and 118,083 ETH.","heading":"Company Background and VASP License","severity":"low","sources":[{"credibility":2,"name":"Delio Obtained First VASPs in Korea as Cryptocurrency Lending & Depositing Service Provider","type":"news_article","url":"https://u.today/press-releases/delio-obtained-first-vasps-in-korea-as-cryptocurrency-lending-depositing-service"},{"credibility":2,"name":"Delio launches as South Korea's first cryptocurrency bank — FinTech Global","type":"news_article","url":"https://member.fintech.global/2022/07/12/delio-launches-as-south-koreas-first-cryptocurrency-bank/"},{"credibility":2,"name":"Crypto Lender Delio Freezes Withdrawals Citing 'Market Volatility' — Decrypt","type":"news_article","url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"}]},{"content":"On June 14, 2023, Delio suspended all customer withdrawals, citing a 'sharp increase in market volatility and increased confusion among investors.' The suspension came one day after Haru Invest — a related South Korean yield platform — halted its own withdrawals on June 13, 2023, following claims by Haru that its asset management consignment operator B&S Holdings (formerly Aventus) had provided falsified information and had lost an alleged 350 billion Korean won (approximately $262 million) in the November 2022 FTX exchange collapse. Delio's public notice explicitly referenced the Haru Invest situation. Prosecutors later alleged that Delio had deposited a portion of customer assets in Haru Invest's ecosystem, despite representing to customers that it operated assets independently. The freeze locked approximately 250 billion Korean won — roughly $169–180 million — belonging to approximately 2,800 investors.","heading":"Withdrawal Freeze and Collapse (June 2023)","severity":"critical","sources":[{"credibility":2,"name":"Crypto Lender Delio Freezes Withdrawals Citing 'Market Volatility' — Decrypt","type":"news_article","url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"},{"credibility":2,"name":"South Korean Bitcoin lending platform Delio pauses withdrawals — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korean-bitcoin-lending-platform-delio-pauses-withdrawals"},{"credibility":2,"name":"South Korea seeks 20-year sentence for Delio CEO over $169M crypto fraud — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"credibility":2,"name":"Crypto yield platforms Haru Invest, Delio face class-action lawsuits — The Korea Times","type":"news_article","url":"https://www.koreatimes.co.kr/economy/cryptocurrency/20230616/crypto-yield-platforms-haru-invest-delio-face-class-action-lawsuits"}]},{"content":"A significant portion of Delio's customer assets was held in FTX exchange accounts and became irrecoverable following FTX's bankruptcy in November 2022. Court officials and multiple news reports confirmed this direct FTX exposure as a contributing cause of Delio's inability to service withdrawals. The related platform Haru Invest, through B&S Holdings, lost approximately 350 billion Korean won in the FTX collapse. Prosecutors also alleged that Jeong Sang-ho promoted misleading information about the platform's stability and operations after the FTX collapse, maintaining a false representation of balance sheet health. The specific extent to which Delio directly held FTX's native token FTT versus other assets in FTX custody has not been independently confirmed in available sources.","heading":"FTX and FTT Exposure","severity":"critical","sources":[{"credibility":2,"name":"South Korea's Delio declared bankrupt with $1.75B in assets lost — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/delio-bankruptcy-south-korea-ftx-impact"},{"credibility":3,"name":"The Fall of Delio: Bankruptcy, Fraud Allegations, and Implications for Crypto Investors — Dzilla","type":"news_article","url":"https://dzilla.com/the-fall-of-delio-bankruptcy-fraud-allegations-and-implications-for-crypto-investors/"},{"credibility":2,"name":"20-Year Prison Term Demanded for Delio CEO: FTX Scandal — COINOTAG","type":"news_article","url":"https://en.coinotag.com/20-year-prison-term-demanded-for-delio-ceo-ftx-scandal"}]},{"content":"On September 1, 2023, South Korea's Financial Intelligence Unit (FIU) imposed a three-month business suspension and a fine of approximately 1.896 billion Korean won (approximately $1.4–1.6 million USD) on Delio, citing multiple violations of the Act on Reporting and Using Specified Financial Transaction Information. Specific violations included: failure to report transactions with unregistered foreign VASPs, supporting the transfer of customer assets to unregistered foreign VASPs 171 times, failure to assess money laundering risks prior to launching new products and services, and failure to fulfill customer verification requirements. The FIU also recommended the dismissal of a senior Delio executive. The regulator's findings confirmed that Delio's compliance failures were systemic rather than isolated.","heading":"Regulatory Sanctions (September 2023)","severity":"high","sources":[{"credibility":2,"name":"Crypto Lending Firm Delio Faces Regulatory Sanctions for Compliance Failures in South Korea — Blockchain.news","type":"regulatory","url":"https://blockchain.news/news/crypto-lending-firm-delio-faces-regulatory-sanctions-for-compliance-failures-in-south-korea"},{"credibility":2,"name":"South Korea's FIU Slaps Crypto Lender Delio with $1.4M Fine and Halts Operations for 3 Months — Blockchain Reporter","type":"regulatory","url":"https://blockchainreporter.net/south-koreas-fiu-slaps-crypto-lender-delio-with-1-4m-fine-and-halts-operations-for-3-months/"},{"credibility":2,"name":"Delio In Deep Water: South Korean Regulator Seizes Crypto Lending Firm's Assets — BitcoinWorld","type":"news_article","url":"https://bitcoinworld.co.in/crypto-lender-delio-warns-normal-operations-in-jeopardy-after-asset-seizures/"}]},{"content":"Following the withdrawal freeze, South Korean authorities launched a criminal investigation into Delio. Travel bans were imposed on key executives from Haru Invest, Delio, and B&S Holdings, including CEO Jeong Sang-ho and a major B&S shareholder identified by the surname Bang. South Korea issued arrest warrants in the Delio-Haru Invest case. Jeong Sang-ho was formally indicted in April 2025 on charges of embezzling approximately 250 billion Korean won (approximately $168.8–180 million) in cryptocurrency assets from roughly 2,800 users between August 2021 and June 2023, under the Act on Aggravated Punishment of Specific Economic Crimes. Prosecutors alleged Jeong engaged in active deceptive acts and false promotion, misrepresenting the platform's stability and operational conditions to investors.","heading":"Criminal Investigation, Arrest Warrants, and Indictment","severity":"critical","sources":[{"credibility":1,"name":"South Korea issues arrest warrant in Delio-Haru Invest withdrawal-suspension case — The Block","type":"regulatory","url":"https://www.theblock.co/post/274232/south-korea-delio-haru-arrest-warrant"},{"credibility":2,"name":"Korean Authorities Ban Travel for Haru Invest, Delio, B&S Holdings Execs — Coin Edition","type":"news_article","url":"https://coinedition.com/korean-authorities-ban-travel-for-haru-invest-delio-bs-holdings-execs/"},{"credibility":2,"name":"South Korea seeks 20-year sentence for Delio CEO over $169M crypto fraud — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"}]},{"content":"Prosecutors at Seoul Southern District Court delivered closing arguments on April 30, 2026, demanding a 20-year prison sentence for Delio CEO Jeong Sang-ho under the Act on Aggravated Punishment of Specific Economic Crimes. Prosecutors described Jeong's alleged conduct as involving active deceptive acts, false promotion, an uncooperative attitude during the investigation, and noted the 'massive scale of damage' to victims. The prosecution emphasized that approximately 2,800 investors suffered harm over the two-year period from August 2021 to June 2023. Jeong's legal defense acknowledged the harm done, stating that Jeong 'recognizes the victim's suffering and feels a deep sense of responsibility,' while asserting no criminal intent and indicating Jeong would seek to compensate victims if acquitted. The first-instance verdict is scheduled for July 16, 2026.","heading":"Prosecution: 20-Year Sentence Demand (April–May 2026)","severity":"critical","sources":[{"credibility":2,"name":"South Korea Seeks 20-Year Sentence for Delio CEO Over $169M Crypto Fraud — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"credibility":2,"name":"Delio CEO Jeong Sang-ho hit with 20-year prison demand in crypto fraud case — crypto.news","type":"news_article","url":"https://crypto.news/delio-ceo-jeong-sang-ho-hit-with-20-year-prison-demand-in-crypto-fraud-case/"},{"credibility":2,"name":"Korea Targets 20-Year Sentence for Delio CEO in Crypto Fraud Case — MEXC News","type":"news_article","url":"https://www.mexc.com/news/1065315"},{"credibility":2,"name":"Crypto Fraud: Delio CEO Faces 20-Year Sentence In $180M — TronWeekly","type":"news_article","url":"https://www.tronweekly.com/crypto-fraud-delio-ceo-faces-20-year-sentence/"}]},{"content":"A Seoul court officially declared Delio bankrupt on November 22, 2024, with the company owing approximately 245 billion Korean won (approximately $1.75 billion by some valuations of total claimed assets, or approximately $180 million in frozen customer deposits). Multiple sources describe the figure differently: some report $1.75 billion in total assets claimed by creditors, while others cite the $169–180 million figure representing the frozen withdrawal amount. Delio's sister company Haru Invest was also declared bankrupt on November 20, 2024. Delio filed multiple corporate rehabilitation requests that were rejected by Korean courts: the first was dismissed by the Seoul Rehabilitation Court in April 2024; a second petition was dismissed by the Suwon Rehabilitation Court's 5th Division; and a third rehabilitation bid was rejected by the Seoul Bankruptcy Court in 2025, with courts ruling that rehabilitation would not benefit creditors under Article 42, Paragraph 3 of the Debtor Rehabilitation Act. A claims filing deadline was set for February 21, 2025, with a first creditors' meeting scheduled for March 19, 2025.","heading":"Bankruptcy Declaration and Rehabilitation Rejections","severity":"critical","sources":[{"credibility":2,"name":"South Korea's Delio declared bankrupt with $1.75B in assets lost — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/delio-bankruptcy-south-korea-ftx-impact"},{"credibility":2,"name":"Korean Court Rejects Second Rehab Request for Bankrupt Crypto Lender Delio — CryptoNews","type":"news_article","url":"https://cryptonews.com/news/korean-court-rejects-second-rehab-request-for-bankrupt-crypto-lender-delio/"},{"credibility":2,"name":"South Korean Court Rejects Delio's Second Rehabilitation Bid — AInvest","type":"news_article","url":"https://www.ainvest.com/news/south-korean-court-rejects-delio-rehabilitation-bid-2504/"},{"credibility":2,"name":"Delio Bankruptcy Claim Filing: Key Information for Foreign Creditors — Ask Korea Law","type":"other","url":"https://askkorealaw.com/2024/12/28/delio/"}]},{"content":"Delio's collapse was closely entangled with two related entities. Haru Invest, described as Delio's sister company, was a South Korean yield platform that halted withdrawals one day before Delio on June 13, 2023, citing falsified information from its asset management consignment operator B&S Holdings (formerly Aventus). Haru alleged B&S Holdings lost approximately 350 billion Korean won (approximately $262 million) in the FTX collapse. Haru Invest's CEO Hugo Hyungsoo Lee and two executives were arrested in February 2024 on embezzlement and fraud charges. Delio had deposited a portion of customer virtual assets with Haru Invest despite allegedly representing to customers that it managed assets independently. B&S Holdings' majority shareholder, identified only by the surname Bang, was among those subject to travel bans imposed by Korean authorities.","heading":"Related Entities: Haru Invest and B&S Holdings","severity":"high","sources":[{"credibility":2,"name":"Haru Invest execs arrested in South Korea on embezzlement charges — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/haru-invest-execs-arrested-south-korea"},{"credibility":2,"name":"Korean Authorities Ban Travel for Haru Invest, Delio, B&S Holdings Execs — Coin Edition","type":"news_article","url":"https://coinedition.com/korean-authorities-ban-travel-for-haru-invest-delio-bs-holdings-execs/"},{"credibility":2,"name":"Haru Invest Scandal: Delio Under Investigation After The Crisis — CryptoRank","type":"news_article","url":"https://cryptorank.io/news/feed/28619-199209-delio-under-investigation"}]},{"content":"The Delio case is part of a broader South Korean regulatory enforcement wave in the cryptocurrency sector. South Korea enacted the Virtual Asset User Protection Act in 2024, introducing new consumer protections and mandatory withdrawal waiting periods of 24 to 72 hours. Regulatory actions were also taken against other South Korean exchanges including Coinone and Bithumb over Anti-Money Laundering compliance failures. The Delio prosecution under the Act on Aggravated Punishment of Specific Economic Crimes signals South Korean authorities' willingness to pursue lengthy custodial sentences in large-scale crypto fraud cases.","heading":"Regulatory Context: South Korea's Broader Crypto Crackdown","severity":"medium","sources":[{"credibility":2,"name":"South Korea seeks 20-year sentence for Delio CEO over $169M crypto fraud — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"credibility":2,"name":"Regulatory Investigation Targets South Korean Crypto Lender Delio — CryptoNews","type":"news_article","url":"https://cryptonews.com/news/regulatory-investigation-targets-south-korean-crypto-lender-delio/"}]}],"sources_used":[{"credibility":2,"name":"South Korea Seeks 20-Year Sentence for Delio CEO Over $169M Crypto Fraud — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"credibility":2,"name":"South Korea's Delio declared bankrupt with $1.75B in assets lost — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/delio-bankruptcy-south-korea-ftx-impact"},{"credibility":2,"name":"Delio CEO Jeong Sang-ho hit with 20-year prison demand in crypto fraud case — crypto.news","type":"news_article","url":"https://crypto.news/delio-ceo-jeong-sang-ho-hit-with-20-year-prison-demand-in-crypto-fraud-case/"},{"credibility":2,"name":"Crypto Lender Delio Freezes Withdrawals Citing 'Market Volatility' — Decrypt","type":"news_article","url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"},{"credibility":1,"name":"South Korea issues arrest warrant in Delio-Haru Invest withdrawal-suspension case — The Block","type":"regulatory","url":"https://www.theblock.co/post/274232/south-korea-delio-haru-arrest-warrant"},{"credibility":2,"name":"Crypto yield platforms Haru Invest, Delio face class-action lawsuits — The Korea Times","type":"news_article","url":"https://www.koreatimes.co.kr/economy/cryptocurrency/20230616/crypto-yield-platforms-haru-invest-delio-face-class-action-lawsuits"},{"credibility":2,"name":"Haru Invest execs arrested in South Korea on embezzlement charges — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/haru-invest-execs-arrested-south-korea"},{"credibility":2,"name":"Korean Court Rejects Second Rehab Request for Bankrupt Crypto Lender Delio — CryptoNews","type":"news_article","url":"https://cryptonews.com/news/korean-court-rejects-second-rehab-request-for-bankrupt-crypto-lender-delio/"},{"credibility":2,"name":"Crypto Lending Firm Delio Faces Regulatory Sanctions for Compliance Failures in South Korea — Blockchain.news","type":"regulatory","url":"https://blockchain.news/news/crypto-lending-firm-delio-faces-regulatory-sanctions-for-compliance-failures-in-south-korea"},{"credibility":2,"name":"Delio Obtained First VASPs in Korea as Cryptocurrency Lending & Depositing Service Provider — U.Today","type":"news_article","url":"https://u.today/press-releases/delio-obtained-first-vasps-in-korea-as-cryptocurrency-lending-depositing-service"},{"credibility":2,"name":"Delio launches as South Korea's first cryptocurrency bank — FinTech Global","type":"news_article","url":"https://member.fintech.global/2022/07/12/delio-launches-as-south-koreas-first-cryptocurrency-bank/"},{"credibility":2,"name":"Korean Authorities Ban Travel for Haru Invest, Delio, B&S Holdings Execs — Coin Edition","type":"news_article","url":"https://coinedition.com/korean-authorities-ban-travel-for-haru-invest-delio-bs-holdings-execs/"},{"credibility":2,"name":"Korea Targets 20-Year Sentence for Delio CEO in Crypto Fraud Case — MEXC News","type":"news_article","url":"https://www.mexc.com/news/1065315"},{"credibility":2,"name":"Crypto Fraud: Delio CEO Faces 20-Year Sentence In $180M — TronWeekly","type":"news_article","url":"https://www.tronweekly.com/crypto-fraud-delio-ceo-faces-20-year-sentence/"},{"credibility":2,"name":"South Korean Court Rejects Delio's Second Rehabilitation Bid — AInvest","type":"news_article","url":"https://www.ainvest.com/news/south-korean-court-rejects-delio-rehabilitation-bid-2504/"},{"credibility":2,"name":"Delio Bankruptcy Claim Filing: Key Information for Foreign Creditors — Ask Korea Law","type":"other","url":"https://askkorealaw.com/2024/12/28/delio/"},{"credibility":3,"name":"The Fall of Delio: Bankruptcy, Fraud Allegations, and Implications for Crypto Investors — Dzilla","type":"news_article","url":"https://dzilla.com/the-fall-of-delio-bankruptcy-fraud-allegations-and-implications-for-crypto-investors/"},{"credibility":2,"name":"20-Year Prison Term Demanded for Delio CEO: FTX Scandal — COINOTAG","type":"news_article","url":"https://en.coinotag.com/20-year-prison-term-demanded-for-delio-ceo-ftx-scandal"},{"credibility":2,"name":"South Korea seeks 20-year term for Delio CEO in crypto case — CoinCentral","type":"news_article","url":"https://coincentral.com/south-korea-seeks-20-year-term-for-delio-ceo-in-crypto-case/"}],"summary":"Delio was South Korea's first VASP-licensed cryptocurrency deposit and lending platform, founded in 2018 by CEO Jeong Sang-ho. In June 2023, the platform abruptly froze approximately $169–180 million in customer withdrawals affecting roughly 2,800 investors, citing market volatility linked to the concurrent collapse of sister-platform Haru Invest and cascading losses from the November 2022 FTX bankruptcy. A Seoul court declared Delio bankrupt on November 22, 2024, and prosecutors at Seoul Southern District Court demanded a 20-year prison sentence for Jeong Sang-ho in April–May 2026, with a first-instance verdict scheduled for July 16, 2026.","timeline":[{"date":"2018-01-01","event":"Delio founded by CEO Jeong Sang-ho in South Korea as a cryptocurrency deposit and lending platform.","source":"FinTech Global","source_url":"https://member.fintech.global/2022/07/12/delio-launches-as-south-koreas-first-cryptocurrency-bank/"},{"date":"2021-08-01","event":"Alleged embezzlement period begins, per prosecutors. Delio begins offering yield products including returns of up to 10.7% APR on Bitcoin, Ether, and USDT deposits.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"date":"2021-01-01","event":"Delio launches Delioswap, a decentralized exchange, entering the DeFi market.","source":"U.Today Press Release","source_url":"https://u.today/press-releases/delio-obtained-first-vasps-in-korea-as-cryptocurrency-lending-depositing-service"},{"date":"2022-01-01","event":"Delio becomes the first crypto lending and depositing company in South Korea to receive a VASP license from the Korea Financial Intelligence Unit (KoFIU).","source":"CoinTelegraph Press Release","source_url":"https://cointelegraph.com/press-releases/delio-obtains-vasp-approval-as-crypto-lending-depositing-provider"},{"date":"2022-07-01","event":"Delio publicly launches as South Korea's first 'crypto bank,' managing approximately $1.3 billion in digital assets (41,743 BTC and 118,083 ETH).","source":"Decrypt","source_url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"},{"date":"2022-11-01","event":"FTX exchange collapses. A significant portion of Delio's customer assets held in FTX accounts become irrecoverable. Related entity B&S Holdings allegedly loses 350 billion Korean won through FTX exposure.","source":"Dzilla","source_url":"https://dzilla.com/the-fall-of-delio-bankruptcy-fraud-allegations-and-implications-for-crypto-investors/"},{"date":"2023-06-13","event":"Haru Invest halts all withdrawals, citing false information from B&S Holdings. Haru reports 350 billion Korean won in losses from FTX exposure via B&S.","source":"Decrypt","source_url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"},{"date":"2023-06-14","event":"Delio suspends all customer withdrawals, citing market volatility and the Haru Invest situation. Approximately 250 billion Korean won (~$169–180 million) belonging to ~2,800 investors is frozen.","source":"Decrypt","source_url":"https://decrypt.co/144675/crypto-lender-delio-freezes-withdrawals-citing-market-volatility"},{"date":"2023-06-16","event":"Class-action lawsuits filed against both Haru Invest and Delio in South Korean courts.","source":"The Korea Times","source_url":"https://www.koreatimes.co.kr/economy/cryptocurrency/20230616/crypto-yield-platforms-haru-invest-delio-face-class-action-lawsuits"},{"date":"2023-09-01","event":"South Korea's FIU imposes a three-month business suspension and a fine of ~1.896 billion Korean won on Delio for AML compliance failures, and recommends dismissal of a senior executive.","source":"Blockchain.news","source_url":"https://blockchain.news/news/crypto-lending-firm-delio-faces-regulatory-sanctions-for-compliance-failures-in-south-korea"},{"date":"2024-02-01","event":"Haru Invest CEO Hugo Hyungsoo Lee and two executives arrested by South Korean prosecutors on embezzlement and fraud charges.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/haru-invest-execs-arrested-south-korea"},{"date":"2024-04-01","event":"Seoul Rehabilitation Court rejects Delio's first corporate rehabilitation petition.","source":"AInvest","source_url":"https://www.ainvest.com/news/south-korean-court-rejects-delio-rehabilitation-bid-2504/"},{"date":"2024-11-20","event":"Haru Invest declared bankrupt by a South Korean court.","source":"Dzilla","source_url":"https://dzilla.com/the-fall-of-delio-bankruptcy-fraud-allegations-and-implications-for-crypto-investors/"},{"date":"2024-11-22","event":"Seoul court officially declares Delio bankrupt, with liabilities of approximately 245 billion Korean won owed to approximately 2,800 customers.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/delio-bankruptcy-south-korea-ftx-impact"},{"date":"2025-02-21","event":"Deadline for creditors and customers to submit claims in Delio's bankruptcy proceedings.","source":"Ask Korea Law","source_url":"https://askkorealaw.com/2024/12/28/delio/"},{"date":"2025-03-19","event":"First creditors' meeting held in Delio's bankruptcy proceedings.","source":"Ask Korea Law","source_url":"https://askkorealaw.com/2024/12/28/delio/"},{"date":"2025-04-01","event":"Jeong Sang-ho formally indicted at Seoul Southern District Court on charges of embezzling approximately 250 billion Korean won in customer crypto assets.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"date":"2025-01-01","event":"Suwon Rehabilitation Court's 5th Division dismisses Delio's second corporate rehabilitation petition.","source":"AInvest","source_url":"https://www.ainvest.com/news/south-korean-court-rejects-delio-rehabilitation-bid-2504/"},{"date":"2025-01-01","event":"Seoul Bankruptcy Court rejects Delio's third corporate rehabilitation bid.","source":"AInvest","source_url":"https://www.ainvest.com/news/south-korean-court-rejects-delio-rehabilitation-bid-2504/"},{"date":"2026-04-30","event":"Prosecutors at Seoul Southern District Court demand a 20-year prison sentence for Jeong Sang-ho during final arguments, citing embezzlement of ~$168.8 million from ~2,800 victims and 'active deceptive acts and false promotion.'","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"},{"date":"2026-07-16","event":"First-instance verdict scheduled at Seoul Southern District Court in the criminal trial of Jeong Sang-ho.","source":"CoinTelegraph","source_url":"https://cointelegraph.com/news/south-korea-seeks-20-year-sentence-for-delio-ceo-over-169m-crypto-fraud"}]},"v":1}