South Korean court rules Ethereum is an information network

A South Korean court has ruled that the Ethereum network qualifies as an information and communications network under current law. The court rejected the defendant's claim of no unlawful intrusion into an information network, stating that Ethereum's decentralized nature does not exempt it from legal classification. On July 23, the 13th Criminal Division of the Seoul Northern District Court sentenced a defendant identified as A to three years and six months in prison for fraud and violations of the Information and Communications Network Act. A was involved in stealing over 800 million won worth of USDT and has not recovered any losses for the victims. A was indicted for creating a fraudulent website and producing smart contract source code, acting as an accomplice in a scheme that misled multiple victims to a fake digital-asset staking website, obtaining access permissions for their MetaMask wallets, and stealing digital assets through smart contracts.

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