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Last year, a funeral services company in Korean called Bumo Sarang put 59.5 billion Won ($40 million) of its clients' money into a leveraged crypto ETF, which is now worth just 10.2 billion Won ($6.8 million), resulting in a $33 million loss. The company is downplaying this revelation, which was part of a broader investigation done by the Korean Economic Daily that highlights embezzlement as a scarily common practice in the industry.
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