South Korean prosecutors have requested a nine-year prison sentence for Hancom Chairman Kim Sang-chul, alleging he created a crypto slush fund worth more than 9 billion won through Arowana Token sales. At a final hearing on the 10th before Criminal Division No. 1 of the Seongnam branch of the Suwon District Court, prosecutors said evidence and the convictions of alleged accomplices supported the charges, while stressing that most victims were members of the public and their losses remain unrecovered. Kim denies involvement in the token-sale scheme and personal gain, although his defense acknowledged an embezzlement charge and cited repayment of the losses. Prosecutors say about 9.6 billion won in Bitcoin from token-sale proceeds was transferred to an account in the name of Kim’s second son. Arowana Token, issued by Arowana Tech, was delisted after rising 1,075-fold within 30 minutes of its April 2021 listing. Kim also faces allegations involving about 490 million won in affiliate funds. His second son and Arowana Tech’s chief executive have received confirmed prison terms, and Kim’s first-instance verdict is scheduled for November 5.