A South Korean gang member has been sentenced to eight years in prison by the Busan District Court for misappropriating a friend's Bitcoin savings. The individual, part of the "Seven Star Gang," was entrusted in 2019 to convert approximately $332,000 worth of Bitcoin into cash, with a 0.5% commission. Instead of fulfilling the agreement, he squandered the funds on illegal gambling sites. The case was reported to the police by the victim, leading to the gang member's arrest. During his time on the run, he was also involved in laundering money for an investment fraud ring, which defrauded victims of around $6.4 million over more than a year.