Token

United

<a href="https://bitcoinworld.co.in/south-korean-authorities-seek-extradition-of-3b-kok-token-scam-perpetrator-from-us/" title="South Korean Authorities Seek Extradition Of $3B KOK Token Scam Perpetrator From US" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400;">South Korean authorities pursue extradition of Mr. Han, central to a $3B KOK token scam, from the United States amidst ongoing legal proceedings.</li> 
 <li style="font-weight: 400;">The scam, promising “guaranteed principal,” caused significant losses to investors in Korea and beyond.</li> 
 <li style="font-weight: 400;">Legal complexities and ongoing investigations continue to unfold in both South Korea and the US.</li> 
</ul> 
South Korean authorities are seeking the extradition of a key figure in the KOK token scam from the United States.&nbsp; 
The suspect, identified only as Mr. Han, has been arrested in the US and is currently facing proceedings in an immigration court. He is expected to be deported back to South Korea in the near future. 
The South Korean <a href="https://www.moj.go.kr/moj_eng/index..do">Ministry of Justice</a> has refrained from commenting on the case, citing the ongoing nature of the investigation and its implications for diplomatic relations.&nbsp; 
However, it has been revealed that discussions between the two countries regarding Mr. Han’s repatriation have been taking place since his arrest earlier this year. 
<h3 id="span-style-font-weight-400-the-kok-token-scam-and-legal-proceedings-span">The KOK Token Scam and Legal Proceedings</h3> 
The KOK token scam, which was launched in September 2019, is estimated to have caused losses of approximately 4 trillion won (about US$2.89 billion) to Korean investors alone.&nbsp; 
The scheme attracted investors by promising “guaranteed principal” and encouraging the purchase and deposit of tokens.&nbsp; 
Mr. Han is believed to be a key figure in planning the KOK revenue model shortly after the failure of a similar coin scheme in China in 2018.&nbsp; 
The scam’s impact has reportedly extended beyond Korea, with cases of losses also reported in the United States and Japan. 
Mr. Han’s case is scheduled to be heard by Judge Glenn R Baker of the Las Vegas Immigration Court on July 9 (local time).&nbsp; 
The hearing will determine whether Mr. Han should be deported. Under US law, residents can be deported for various reasons, including violations of immigration law, general criminal offenses, and genocide.&nbsp; 
The specific procedure involves arrest by personnel such as those from the U.S. Department of Homeland Security, determination of bail within 48 hours, and issuance of a ‘Notice to Appear’ order. 
Mr. Han has reportedly appointed a lawyer to represent him, indicating his intention to contest the deportation decision. If he disagrees with the immigration court’s ruling, he may appeal to the Immigration Appeals Board (BIA). This process could potentially delay his return to South Korea. 
<h3 id="span-style-font-weight-400-current-state-of-kok-tokens-and-ongoing-investigations-span">Current State Of KOK Tokens And Ongoing Investigations</h3> 
The KOK token’s value has plummeted since its peak in 2022, when it reached $7 per token. It has since fallen below $0.01, and trading has virtually ceased.&nbsp; 
On June 3, the overseas exchange ‘KuCoin’, which accounted for over 90% of KOK token trading volume, announced the delisting of KOK tokens. 
The exchange cited special regulations as the reason for delisting, which can include factors such as low liquidity or legal violations by the token issuance team.&nbsp; 
Despite these developments, some individuals involved in the KOK Foundation have denied the allegations against them. 
Mr. Kim, who reportedly took over the operation and management of the KOK Foundation, claims to have been “acquitted in the past.”&nbsp; 
He has appointed lawyer Kim Kwan-jung, formerly of the Seoul Eastern District Prosecutors’ Office and Suwon High Prosecutors’ Office, to represent him.&nbsp; 
The investigation into the KOK token scam continues, with authorities working to unravel the full extent of the scheme and bring those responsible to justice.

South Korean Authorities Seek Extradition Of $3B KOK Token Scam Perpetrator From US

Mục lục

ItsBitcoinWorld

Các bài viết khác được xuất bản trên 9 thg 7, 2024

Solana Faces Resistance and Tests Key Support Levels

Chainlink and Instruxi Partner to Strengthen Digital Asset Tokenization

Coinbase Ventures and Ampleforth Collaborate to Create Flatcoin Technology – SPOT Launches on Base

Trump Vice President Pick Coming 'Any Time': Betting Odds Show New Favorite Emerging

Grayscale Ethereum Mini Trust: Distribution Date Confirmed for July 18

Bitcoin Bulls Under Pressure as Price Drops 26% Below ATH

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!