Former Pro Golfer Ahn Sung-hyun Released on Bail Amid Cryptocurrency Fraud Charges

Ahn Sung-hyun, a former professional golfer, has been released on bail after being detained on charges of defrauding billions of won by promising cryptocurrency listings. The Seoul High Court's Criminal Division 13, led by Judge Baek Kang-jin, accepted Ahn's bail request on April 11. The court set a bail amount of 50 million won and imposed conditions including residence restrictions, a travel ban, prohibition of leaving home without court approval, and no contact with accomplices or witnesses.

In addition to Ahn, Lee Sang-jun, former CEO of Bithumb Holdings, and businessman Kang Jong-hyun, who were also indicted in the same case and received prison sentences in the first trial, were granted bail. Lee faces charges of breach of trust, while Kang is charged with bribery.

Ahn is accused of accepting 3 billion won in cash, two luxury watches worth a total of 400 million won, and a high-end restaurant membership card from Kang in 2021, in exchange for facilitating the listing of 'A Coin' on the Bithumb cryptocurrency exchange. He allegedly shared these with Lee. Ahn also faces charges of deceiving Kang into giving him an additional 2 billion won by falsely claiming that Lee was demanding the money urgently.

The court found Ahn guilty of receiving luxury watches and a restaurant membership from Kang but acquitted him of receiving 3 billion won in cash. The court noted that the cryptocurrency was never actually listed, and Ahn conspired with Lee to receive luxury watches worth 400 million won, deceiving Kang in the process.

Ahn was sentenced to four years and six months in prison in December last year and had been in custody for over five months.

Ahn Sung-hyun, who debuted as a professional golfer in 2005, gained fame after marrying actress Sung Yu-ri in May 2017. The couple welcomed twin daughters in January 2022.