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“[The defendant] could not shift his criminal liability,” Hui said. Just at this time, Bitcoin and the broader crypto market have dropped to new 2022 lows. The Bitcoin price has tanked 10 percent dropping to $20,000. On the other hand, the altcoin space is witnessing even more brutal correction. Bitcoin has dropped nearly 60 percent year-to-date and more than 70 percent since its all-time high in November 2021. ZDNET RECOMMENDS Add up to 50 administrators As five out of seven counts were serious, Hui sentenced Ng to six years and six months in jail.
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