
Rep. Min Byeong-deok points out that those involved in the 'Cock Coin' incident are employed by blockchain companies in the National Assembly's inspection
Representative Min Byeong-deok pointed out in the National Assembly's Political Affairs Committee's Financial Supervisory Service audit that those involved in the 'Cock Coin' incident, which caused damage worth trillions of won, were employed by the blockchain company Bitoz and signed MOUs with financial companies, and requested an inspection by the Financial Supervisory Service.
AI-generated summary
Kok Coin is a fraud case that swindled trillions of won in investment funds from over 570,000 people through a multi-level method between 2019 and 2023.
MOU with Bitoz, Hana, I.M., Eugene, etc... Financial Supervisory Service Director: “I will check.”
(Seoul = Yonhap News) Reporter Park Soo-hyun = On the 19th, Democratic Party of Korea lawmaker Min Byeong-deok requested an inspection from the Financial Supervisory Service, saying that some of the 'KOK Coin' officials were employed by Bitoz, a blockchain company that collaborates with financial companies.
Representative Min mentioned the Kok Coin incident during the Financial Supervisory Service's audit of the National Assembly's Political Affairs Committee and said, "It has been reported that there are people involved in Bitoz, a blockchain company in Gangnam (Seoul)."
Kok Coin is a case of recruiting investors through a multi-level method between 2019 and 2023 with the lure of guaranteeing principal and generating high profits, and swindling investments worth trillions of won from over 570,000 people.
In this case, former Medium chairman Mr. Kim and others were sent to trial, but until this day, nearly two years after the indictment, the first trial ruling was not made and no relief for damages was provided.
Representative Min asked, “The victims have not received any compensation and there has not been a court ruling yet, so does it make sense for the people involved to still get jobs and sign an MOU (business agreement) with a financial institution?”
He then pointed out, “(Bitoz) advertised that it signed MOUs with Hana Financial TI in March, IM Bank in May, Hecto Innovation in August, Danal, and Eugene Investment & Securities in September, and even completed technology verification with Jeonbuk Bank.”
He said, “How can we trust the Financial Supervisory Service if the people involved in producing 570,000 victims are still employed and working?” and asked, “Before the comprehensive audit, please identify those related to Kok Coin among Bitoz executives and submit the data.”
Lee Chan-jin, head of the Financial Supervisory Service, responded, “I will check and let you know.”
AI outlook — possibilities, not facts
The Financial Supervisory Service plans to confirm whether any of the Bitoz executives are related to Kok Coin and submit data before the comprehensive audit.
Very likely · Within days

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