Johnber Kim detained and indicted for allegedly manipulating "fraudulent coins" worth $58.60 million

On August 1st, the virtual asset crime joint investigation team of the South Seoul District Prosecutor's Office announced on the 1st that Mr. Park (Johnber Kim) was arrested and charged with fraud and violating the law, and Mr. A (38 years old), the business partner who helped Mr. Park commit the crime, was charged without detention. Prosecutors said that Mr. Park and others issued and listed the fraudulent token "Grape" between February 2021 and April of the following year, artificially inflated the price of the token, and then sold it all, suspected of misappropriating 80.90 billion won (about $58.60 million). The profit they actually earned is estimated to be 21.60 billion won (about $15.81 million).