According to CoinMeta, Delio CEO Jeong Sang-ho was sentenced to 15 years in prison for crypto fraud in South Korea. Jeong Sang-ho was accused of defrauding users through fake trading licenses in the operation of his crypto company Delio, resulting in losses of approximately 50 million US dollars. A court in the southern region of Seoul, South Korea, ruled that Jeong Sang-ho falsely obtained a virtual asset trading license while operating Delio and defrauded victims of about 7 billion Korean won (approximately 49.3 million US dollars) in virtual assets. This case caused numerous victims to suffer significant economic losses that are difficult to recover from. Delio was launched in 2022 and once claimed to be a "digital asset bank," offering high-interest crypto deposits. However, in June 2023, it froze customer withdrawals, and in November 2024, it announced bankruptcy.