South Korean authorities have re-arrested crypto mogul Park, also known as "Jonbur Kim" or the "Coin King," on fresh fraud charges related to the manipulation of Artube tokens. This comes only weeks after he was released on bail for another crypto scam involving Podo Coin. The Seoul Southern District Court issued his latest arrest warrant on February 20, citing high risks of evidence tampering and possible flight.

Prosecutors accuse Park and his associate, Mr. Moon, of orchestrating the fraudulent issuance and listing of Artube tokens between March 2021 and April 2022. The duo allegedly manipulated token prices and used misleading disclosures to swindle investors out of 68 billion won ($47 million). Moon has also been arrested on the same charges.

Park was already under trial for a separate fraud case involving Podo Coin, where he reportedly embezzled 20 billion won ($14 million). Despite being granted bail in January, new evidence surfaced regarding his involvement in Artube, leading to his swift re-arrest.

For years, Park has been under scrutiny for his questionable financial activities in the crypto space. He gained popularity on social media by flaunting luxury cars and expensive possessions, presenting himself as a successful crypto investor. However, authorities claim he engaged in widespread market manipulation, including bribing exchange executives to list tokens and artificially inflating prices.

His attempts to evade the law have also been dramatic. In December 2023, Park tried to escape South Korea by boarding a fishing boat headed for China. However, bad weather forced the vessel to return, leading to his arrest. He was initially sentenced for violating smuggling laws, but his punishment was later reduced on appeal.

Now facing serious fraud charges again, Park’s legal troubles continue to mount as authorities crack down on illicit activities within South Korea’s cryptocurrency industry.