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According to South Korean Yonhap News Agency, prosecutors in South Korea requested a 20-year prison sentence for CEO Jeong Sang-ho of the crypto deposit service platform Delio during closing arguments at the Seoul Southern District Court this week. Prosecutors pointed out that Jeong Sang-ho's active deception and false advertising led to approximately 2,800 investors being unable to withdraw funds, involving a total amount of 250 billion Korean won (about $169 million). Jeong Sang-ho was indicted in April 2025 on charges of embezzlement, and the first-instance verdict in the case is expected to be announced on July 16. (Cointelegraph)