# South Korean Court Records First Confirmed Conviction Without Regulator Referral

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/56517
Published: 2026-11-13T09:46:42.000Z
Updated: 2026-11-13T09:46:42.000Z
Section: Regulation

> The conviction under the Virtual Asset User Protection Act followed a fake token investment scheme that collected about $375,000 from 14 victims.

A South Korean court has issued the country’s first confirmed conviction under the Virtual Asset User Protection Act in a case that began without a financial-regulator referral.

The Goyang Branch of the Uijeongbu District Court sentenced a money-laundering participant to two years and six months in prison for violating the act and other laws.

The case involved a fake investment website that directed people toward tokens that did not exist. It promised large returns after the tokens were listed and took about $375,000 from 14 victims.

The court issued its first-instance ruling in July. An appeal was rejected in October, making the judgment final.