[South Korea Sentences Key Figure in Virtual Asset User Protection Act Fraud Case: Meme Coin 'Rug Pull' Mastermind Gets 4 Years] Odaily Planet Daily News – South Korea today held the first trial for a case involving fraudulent and unfair trading under the Virtual Asset User Protection Act. The Seoul Southern District Court sentenced Park, a cryptocurrency influencer who orchestrated the Meme coin 'Rug Pull' scheme, to 4 years in prison. Two accomplices were also sentenced to 2 years and 6 months, and 3 years with a 5-year probation, respectively. Prosecutors stated that the defendants issued Meme coins through Pump.fun and spread false positive information such as 'lock-up' via social media, driving the coin's price up approximately 1001 times within 26 hours. This attracted around 6,000 investors to buy in, after which they sold off their holdings for profit. The group spent only about 10 million Korean won in operational costs and illegally profited approximately 400 million Korean won. (Edaily)