ChainCatcher news, according to Sisa Journal, the key figure involved in the multi-billion dollar KOK token scam has been arrested in the United States and is currently being tried in immigration court. South Korean authorities are working to extradite the man, and the two countries have discussed the matter. The South Korean Ministry of Justice declined to comment, saying that the investigation is still ongoing and includes information involving diplomatic relations.

The cryptocurrency KOK, launched in September 2019, was allegedly used to raise funds through a pyramid scheme, and industry experts estimate that Koreans alone lost 4 trillion won (US$2.89 billion) in the scam.