91.9 million USD in KOK coin funds traced through exchanges
Over 120 billion won in assets linked to the KOK coin multilevel fraud case were concealed through South Korean and overseas exchanges. Outflows totaling 91.9 million USD were identified between January and October 2022 across eight exchanges, including cash-outs and coin transfers. The KOK coin scheme impacted 570,000 individuals in South Korea and abroad, with total damages estimated at 2.5 trillion won. Since 2019, the KOK coin issuer promoted the token by claiming users could deposit Bitcoin and other assets to receive monthly rewards through a staking-like structure. The scheme also employed multilevel marketing, promising participants fixed monthly returns of up to hundreds of millions of won for bringing in and depositing funds from other investors.
-- Price
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