Two local residents South Korean authorities are suspected of creating a bitcoin pyramid, which collected 20 billion won ($ 20 million)
On April 19, the Incheon District Court imposed fines on the equivalent of $ 15 million and $ 8 million on the two organizers of the pyramid.
The organizers promised participants "a high return on investment in bitcoin." This multi-level scheme was created in 2015.
"Multilevel schemes threaten the socio-economic structure and cause a large number of victims," the judge said, mentioning that the amount of fines imposed due to the amount of money raised by intruders.