According to the Korea Economic Daily, Kang Seung-kon, co-chief executive and largest shareholder of the well-known entertainment company Cube, was recently accused of misleading investors into investing in the cryptocurrency Nestree issued by the Korean blockchain company Nestree Media Group, and suspected of false guarantees. return on investment. Cube shares fell 1.9% today, perhaps as a result of this news. (Preliminary summary: (Squid Game 2) The new character "Coin Speculator" triggered the topic: Why does South Korea hate people in the currency circle so much?) (Background supplement: South Korea's Central Bank: More than 30% of citizens are speculating in coins! Local cryptocurrency investor users The number exceeded 15.59 million) We know that the Korean entertainment industry is quite famous in the world, and various idol groups have huge influence, such as Girls' Generation, BTS, (G)I-DLE... and so on. Behind these popular groups or artists, there are usually professional entertainment (brokerage) companies responsible for creating and handling their daily performances. Among them, the most well-known brokerage companies in South Korea include: SM, YG, JYP, HYBE and CUBE. The CEO of Cube was accused of being involved in a crypto investment scam. However, according to the (Korea Economic Daily) report, Kang Seung-kon, the co-executive and largest shareholder of Cube Entertainment, a well-known entertainment company, was recently accused of misleading investors into investing in a Korean blockchain company. Nestree, the cryptocurrency issued by Nestree Media Group, is suspected of falsely guaranteeing investment returns. It is understood that Cube Entertainment invested 100 million won (approximately US$68,376) in Nestree Media Group through a capital increase in March 2022. After the news of this investment was exposed, the price of Nestree currency surged nearly ten times in just one month, soaring from 5 Korean won to 50 Korean won. The market is generally expected that Cube will further deepen its cooperation with Nestree. However, victims allege that during this period of growth, Jiang Chengkun encouraged investors to put money into buying Nestree and guaranteed that they would get their principal back. However, the result was that Nestree continued to fall in the future, from a high of 59 won to only about 4.9 won today. When the victim asked Jiang Chengkun to get his principal back after the price of $Nestree dropped, Jiang Chengkun denied making any commitment and later provided investment information in other cryptocurrencies, implying that these investments would help make up for the losses and make investors Legal action has been considered. Cube shares fell 1.9% The incident also affected shares of Cube Entertainment. Cube shares fell 1.9% today to close at 14,450 won, taking their year-to-date decline to 7.4%, according to Google Finance data. Introduction to K-pop Giant Cube Cube, one of the Korean entertainment giants, owns the well-known K-pop groups (G)I-DLE (Ye Shuhua, who came to South Korea from Taiwan to develop, is the female member of the group) and Pentagon. In addition, Cube will cooperate with Animoca Brands in 2022 to establish a joint venture focusing on NFT to actively expand the field of blockchain and digital assets. Related reports and analysis) Is the Korean stock market really harmed by Bitcoin? South Korea's new policy: Companies and financial institutions will gradually be allowed to open real-name accounts to participate in cryptocurrency transactions. South Korea executed Yin Xiyue's arrest warrant and entered the official residence to confront the military police! Acting President: We do not rule out protecting the market and stabilizing financial and foreign exchange. "The boss of (G)I-DLE was accused of crypto fraud, and the $Nestree victim suffered a huge loss of 90%: he was guaranteed to recover the principal." This article was first published on BlockTempo Dongqi-the most influential blockchain news media).