Bitcoin News Today TheBitTimes.com

A South Korea n court has sentence d the CEO of crypto exchange Bitsonic to seven years behind bars for stealing 10 billion won ($7.5 million) worth of customer deposits, while its tech chief will spend a year in prison. Arrested in early August, chief Jinwook Shin was accused of manipulating crypto prices and trading volumes on Bitsonic, and stealing user investments. He was indicted on charges of fraud, forgery, and obstruction of business by computer. Bitsonic’s VP of technology, referred to as Mr. A, was indicted on charges of obstruction of business by computer. He was accused of creating and running a program that allowed Shin to manipulate the system in his favor. On Wednesday, South Korean outlet Yonhap News reported that the duo had received a combined eight years in prison. According to the Seoul Eastern District Court, Shin and Mr. A are “avoiding responsibility and showing no remorse.” A “significant amount” of the stolen funds have not...

Lawyers claim that Sam Bankman-Fried (SBF) needs his medications for depression and ADHD at Brooklyn’s detention center.  Reuters reported that SBF’s lawyers requested Emsam skin patches for depression and a few doses of Adderall for attention deficit hyperactive disorder (ADHD) in the detention center. The attorneys stated in a letter to U.S. District Judge Lewis Kaplan that the former FTX CEO has been prescribed the meds for five and three years. “Without these medications, mr. Bankman-Fried will experience a return of his depression and ADHD symptoms, which will severely impact his ability to assist in his own defense.” SBF’s lawyers Moreover, the 31-year-old disgraced CEO is waiting for his trial, scheduled for Oct. 2, while in detention for allegedly tampering with witnesses — his $250 million bail has been revoked.  Before heading to prison, SBF claimed, on Aug. 2, that the jail request violates the freedom of speech. The proposal for the former F...