ChainCatcher message, Hashed partner Ryan Kim stated on social media that in 2014, Ripple Labs sold XRP in South Korea through the 'Ripple Market Korea' project in a 'Ponzi scheme' manner, attracting a large number of Korean investors. These early investors may have seen substantial returns, and there is a genuine XRP community in South Korea, which is why many Koreans buy XRP.
According to a report by Korean media in November 2014, the platform operator Ripple Market Korea completed its first round of sales within 2 hours on the opening day. The platform issued its own token RMK, promising to return transaction fee profits to users based on their holdings. At that time, the platform promoted advantages such as XRP's ability to be exchanged with various national currencies, investment from Google Ventures, and compliance with US regulations. It is worth noting that the platform also warned investors to guard against multi-level marketing practices that sold XRP at 10-20 times the market price.
