CEO of CoinZest, Korea's first virtual asset mining exchange that had been criticized for stopping KRW withdrawals, received a judgement of acquittal from court. The reason of such judgement was that embezzlement cannot be established in this case. The fact that the victims received points for depositing money in Zest C&T's account cannnot be considered as custody for specific purposes and considering the deposit history and usage of the corporate's account, there were no clear evidence of embezzlement. Partner attorney Ohoon Kwon suggested that "as such cases happen due to the different regulations of agreement of exchanges, common regulations need to be prepared in order to govern with strict penalties the breach of duty and embezzlement of exchanges." (Pinpoint News 2022.04.18.)

URL: "Stopping KRW Withdrawls," Coinzest CEO Receives Judgement of Acquittal From Court