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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

  • Tom's Hardware faviconTom's Hardware

    May 21, 2026, 5:40 am117 pts
    photo of Korean funeral services company lost $33 million of its customers' money over a bad crypto bet — firm was secretly… imageBumo 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…
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