ChainCatcher news, reported by The Block, that Kang Seung-kon, the CEO of South Korean entertainment company Cube Entertainment, has been accused of involvement in a cryptocurrency investment scam. He is alleged to have encouraged acquaintances and colleagues to invest in the cryptocurrency Nestree, which is under the South Korean blockchain company Nestree Media Group. Nestree reached a price of 59 KRW on March 28, 2022, but then fell by 34% to 39 KRW within a month, and by the end of the year, it dropped to single digits.
Previously, Cube collaborated with Animoca Brands to establish a joint venture focused on NFTs in 2022.