Korean Funeral Firm Bet Grieving Families' Prepaid Funds on 2x Leveraged Crypto ETFs — and Imploded

Bumo Sarang, one of South Korea's largest funeral service companies, has collapsed after management diverted prepaid funeral funds — money entrusted by thousands of families to cover future burial costs — into leveraged crypto-related ETFs. The firm reportedly concentrated exposure in BMNU, a 2x…