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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

… Unlike banks, which are treated as financial institution and thus placed under much stricter scrutiny, these funeral firms are as classified as "prepaid installment businesses." They answer to the Korean Fair Trade Commission FTC instead and exploit the 50-50 rule that states only half of their cus… …

May 21, 2026 · Hassam Nasir