South Korean XRP exchange operator sentenced to 8 years for embezzling $3.4m via crypto fraud.

An XRP exchange operator in South Korea has been sentenced to eight years in prison for embezzling nearly $3.4m. The operator, known only as Mr. A, was convicted for exploiting his role in the crypto market since 2015, defrauding investors by promising to purchase XRP tokens at below-market rates. South Korea's strict approach to crypto fraud is highlighted by the case, reflecting the growing legal scrutiny in the sector.