According to Foresight News, a key figure in the alleged billion-dollar KOK token scam has been arrested in the United States and is currently undergoing trial in an immigration court. South Korean authorities are working to extradite this individual, and discussions have already taken place between the two countries. The South Korean Ministry of Justice declined to comment, stating that the investigation is still ongoing, including information involving diplomatic relations.
The cryptocurrency KOK, launched in September 2019, was used to raise funds through a pyramid scheme. Industry experts estimate that South Koreans alone lost 4 trillion won ($2.89 billion) in this scam.