Ulsan police continue KOK token fraud investigation

Ulsan Metropolitan Police Agency Commissioner Choi Bohyeon confirmed that the investigation into the KOK Coin multilevel fraud case is ongoing and will extend beyond the previously recognized damages of 404.4 billion won, approximately 292 million dollars. During a National Assembly audit on Oct. 21, Democratic Party lawmaker Yang Bu-nam called for a swift investigation. Choi indicated that the probe would continue in addition to the 404.4 billion won related to a pre-indictment court-approved asset forfeiture and preservation order. Prosecutors estimate that the KOK token case impacted 570,707 individuals both in South Korea and abroad, resulting in total losses of 2.5759 trillion won, around 1.86 billion dollars.

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