Police Investigate UKISS's Kim Ki-bum for
CryptoNewsTerminal Staff20 May, 2024
Police Investigate UKISS's Kim Ki-bum for
UKISS's Kim Ki-bum, CEO of SDKB, has been indicted for "coin investment fraud" in the range of 13 billion won and is currently under police investigation. Kim issued the "Enterbutton (ENTC) coin" and listed it on domestic exchanges in March 2022. Complainant A alleged that Kim and his associates promised to raise the coin's price through marketing, but instead raised it to a maximum of 18,000 won and then dropped it to 1,500 won, resulting in significant losses for investors. Kim has denied any direct involvement in the investment scam, while the issuer of the Enterbutton coin claims its accounts were hacked and cryptocurrency was stolen. The price of the coin has since plummeted. The police investigation is ongoing.
