A Korean faculty trainer requested his college students to spend money on Bitcoin (BTC), however then the trainer threatened his teenage student with a gun after losing Bitcoin as a result of the token price began.

Teacher threatens college students after losing Bitcoin

Per Chosun, the trainer in query, an unnamed 48-year-old director of a non-public academy in Daejeon City, was just lately sentenced to 18 months in jail and two years probation after convicted of threats, coercion and extortion .

According to the court docket, Chosun bumped into monetary bother in 2017 and heard that certainly one of her college students had made an enormous revenue from trading Bitcoin.

The trainer then handed the scholars $ 17,100 price of money and requested them to spend money on the tokens on their behalf after telling his college students that “it doesn’t matter whether you make a profit or no loss” .

However, when the token price started to say no within the 2018 crypto winter, a good portion of the trainer’s stake was misplaced.

The trainer referred to as the student to the academy, cursed the student, pulled out a “weapon” and positioned it on the desk in entrance of the student earlier than asking the student to compensate the trainer for the loss. .

The trainer continued to make use of the strategy of “intimidation” and even threatened to “sue” the scholars

During the sentencing, Presiding Judge Choi Sang-soo was quoted by the Daejeon District Court’s No. 2 Criminal Division as saying that the crimes in opposition to which Teacher was discovered had been “serious” and added that “the victim” ” significantly traumatized ”by the incident.

South Korea’s authorized minimal age for adopting crypto was put to the check in 2018 when crypto exchanges had to make sure that their prospects had been 18 years or older. Legal modifications that went into impact earlier this 12 months made it necessary for exchanges to companion with banks requiring account holders to hyperlink their wallets to actual names and verified financial institution accounts to social safety numbers for these beneath the age of 18.

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