South Korean prosecutors have called for an eight-year prison sentence for Lee Jung-hoon, the former chairman of Bithumb, the country’s second-largest cryptocurrency exchange. Lee is accused of committing fraud worth approximately $85 million, according to Korean media outlet Decenter. The charges against Lee include embezzlement, breach of trust, and fraudulent financial reporting. The case is still ongoing, and a final verdict has not been reached. Bithumb, which is based in Seoul, has denied any wrongdoing and stated that it will cooperate fully with the investigation.