50,000 crypto investors fight back against a new crypto tax in South Korea, and a funeral service company loses $33M on Bitmine. Asia Express
4 min
May 25, 2026
A South Korean funeral firm sits on $32.7 million in ETH-linked ETF losses, Polymarket and Kalshi face Asian restrictions and more.
written by
Yohan Yun , Staff Writer
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
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South Korean funeral company Bumo Sarang lost $33M on a 2x leveraged crypto mining ETF using customer prepaid funds, raising…
It wasn't even the only company siphoning customer funds.
A South Korean funeral company reported a $33 million unrealized loss tied to leveraged ether ETF investments.
A South Korean funeral company invested some of its customer funds in leveraged Ether ETFs and is currently sitting on a $33…
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