Korean funeral services company lost $33 million of its customers' money over a bad crypto bet — firm was secretly investing client funds into leveraged crypto ETFs
Bumo Sarang, a funeral services company in Korea, lost $33 million after it invested $40 million of its own customers' money into a leveraged crypto ETF. These funds were meant for prepaid funeral services, but the company exploited loopholes to siphon them into creative investments. Unfortunately, almost half of the…
Tom’s Hardware ·