Major South Korean newspaper linked to $2 billion crypto fraud promotion

Victims of the KOK token scam have filed a lawsuit against Chosun Ilbo, South Korea’s largest newspaper, accusing it of promoting the fraudulent KOK Play platform.

The lawsuit states that Chosun Ilbo and its subsidiaries endorsed KOK Foundation, which promised investors up to 20% monthly returns. The KOK token has since lost nearly all value, leading to $2.9 billion in losses.

Authorities are investigating whether Chosun Ilbo’s coverage lent legitimacy to the scam, which deceived about 2 million investors.

The SEC is investigating Crypto․com — the regulator is threatening to sue the exchange, as it equates crypto operations to deals involving unregistered securities, violating U.S. law.

However, Crypto․com reported that they have filed a lawsuit against the SEC, claiming the regulator has unilaterally expanded its jurisdiction beyond the legal limits.

The FBI launched its own Ethereum token, “The NexFundAI Token,” and involved companies in “illegal manipulation schemes.” As a result, charges were brought against 4 crypto companies and 14 individuals.

#BecomeCreator #ciberseguridad #estafas #SEC #Tokenization $ETH