South Korean prosecutors probing the former President Yoon Suk-yeol and the former First Lady Kim Keon-hee have interrogated the suspected crypto fraudster Jon Bur Kim (real surname Park). Park, a crypto market maker and luxury sports car collector, has been indicted for crypto fraud . Prosecutors think he issued and manipulated two so-called “scam coins,” and manipulated their prices by issuing fake news about the tokens. However, prosecutors earlier this month established a possible link between Park’s case and that of the former First Lady. Kim Keon-hee is accused of peddling influence, stock manipulation, and other corruption-related charges. Former President Yoon: Arrest Warrant Incoming? Prosecutors are investigating Kim Keon-hee along with Yoon, who failed in a bid to declare martial law in South Korea in early December last year. Yoon’s refusal to share iPhone passcode disrupts special probe https://t.co/c8NXMuUcLc — The Korea Times (@koreatimescokr) July 29, 2025 The former President was later impeached. He has since been charged with various corruption-related offences. But Former President Yoon has twice refused to respond to court summons requests. This has led prosecution officials to consider requesting an arrest warrant. Yonhap reported that the probe has also expanded to Yoon and Kim’s associates. The South Korean news agency wrote that the special prosecution team is believed to be investigating the former senior prosecutor Kim Sang-min. Prosecutors believe Kim Sang-min may have “received illicit money” from the chief suspect in a crypto fraud case. Media outlets assume that this is Park, who is accused of embezzling 80.9 billion won ($58.1 million) worth of investors’ money. Prosecutors think that Park gave Kim Sang-min money to pay for motor vehicle rental fees. Kim Sang-min then allegedly used this money to pay for the vehicles as he attempted to win the People Power Party nomination for the Changwon Uichang district seat ahead of the April 10 legislative election last year. Kim Sang-min was ultimately unsuccessful in his bid, and was eliminated during the primaries. But prosecution officials appear to think that Kim Keon-hee used her influence to help him run. The special counsel team investigating allegations surrounding former first lady Kim Keon Hee has requested an arrest warrant for former President Yoon Suk Yeol, the team announced Wednesday. https://t.co/c7xp77LPWD — The Korea JoongAng Daily (@JoongAngDaily) July 30, 2025 Rug Pull Suspect Summoned The latest development appears to confirm reports from earlier this month . These claimed that the special prosecution team had asked to see the Park/scam coin case files. Prosecutors think that Park and a CEO surnamed Moon stole hundreds of billions of won. They think the duo issued and listed a suspected scam coin named Atube in 2021. They have also accused Park of masterminding a rug pull scam for a token named Podo Coin, also in 2021.South Korean prosecutors probing the former President Yoon Suk-yeol and the former First Lady Kim Keon-hee have interrogated the suspected crypto fraudster Jon Bur Kim (real surname Park). Park, a crypto market maker and luxury sports car collector, has been indicted for crypto fraud . Prosecutors think he issued and manipulated two so-called “scam coins,” and manipulated their prices by issuing fake news about the tokens. However, prosecutors earlier this month established a possible link between Park’s case and that of the former First Lady. Kim Keon-hee is accused of peddling influence, stock manipulation, and other corruption-related charges. Former President Yoon: Arrest Warrant Incoming? Prosecutors are investigating Kim Keon-hee along with Yoon, who failed in a bid to declare martial law in South Korea in early December last year. Yoon’s refusal to share iPhone passcode disrupts special probe https://t.co/c8NXMuUcLc — The Korea Times (@koreatimescokr) July 29, 2025 The former President was later impeached. He has since been charged with various corruption-related offences. But Former President Yoon has twice refused to respond to court summons requests. This has led prosecution officials to consider requesting an arrest warrant. Yonhap reported that the probe has also expanded to Yoon and Kim’s associates. The South Korean news agency wrote that the special prosecution team is believed to be investigating the former senior prosecutor Kim Sang-min. Prosecutors believe Kim Sang-min may have “received illicit money” from the chief suspect in a crypto fraud case. Media outlets assume that this is Park, who is accused of embezzling 80.9 billion won ($58.1 million) worth of investors’ money. Prosecutors think that Park gave Kim Sang-min money to pay for motor vehicle rental fees. Kim Sang-min then allegedly used this money to pay for the vehicles as he attempted to win the People Power Party nomination for the Changwon Uichang district seat ahead of the April 10 legislative election last year. Kim Sang-min was ultimately unsuccessful in his bid, and was eliminated during the primaries. But prosecution officials appear to think that Kim Keon-hee used her influence to help him run. The special counsel team investigating allegations surrounding former first lady Kim Keon Hee has requested an arrest warrant for former President Yoon Suk Yeol, the team announced Wednesday. https://t.co/c7xp77LPWD — The Korea JoongAng Daily (@JoongAngDaily) July 30, 2025 Rug Pull Suspect Summoned The latest development appears to confirm reports from earlier this month . These claimed that the special prosecution team had asked to see the Park/scam coin case files. Prosecutors think that Park and a CEO surnamed Moon stole hundreds of billions of won. They think the duo issued and listed a suspected scam coin named Atube in 2021. They have also accused Park of masterminding a rug pull scam for a token named Podo Coin, also in 2021.
Prosecutors Investigating Ex-South Korean President Yoon Quiz ‘Crypto Fraudster’
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
South Korean prosecutors probing the former President Yoon Suk-yeol and the former First Lady Kim Keon-hee have interrogated the suspected crypto fraudster Jon Bur Kim (real surname Park).
Park, a crypto market maker and luxury sports car collector, has been indicted for crypto fraud. Prosecutors think he issued and manipulated two so-called “scam coins,” and manipulated their prices by issuing fake news about the tokens.
However, prosecutors earlier this month established a possible link between Park’s case and that of the former First Lady.
Kim Keon-hee is accused of peddling influence, stock manipulation, and other corruption-related charges.
Former President Yoon: Arrest Warrant Incoming?
Prosecutors are investigating Kim Keon-hee along with Yoon, who failed in a bid to declare martial law in South Korea in early December last year.
The former President was later impeached. He has since been charged with various corruption-related offences.
But Former President Yoon has twice refused to respond to court summons requests. This has led prosecution officials to consider requesting an arrest warrant.
Yonhap reported that the probe has also expanded to Yoon and Kim’s associates. The South Korean news agency wrote that the special prosecution team is believed to be investigating the former senior prosecutor Kim Sang-min.
Prosecutors believe Kim Sang-min may have “received illicit money” from the chief suspect in a crypto fraud case.
Media outlets assume that this is Park, who is accused of embezzling 80.9 billion won ($58.1 million) worth of investors’ money.
Prosecutors think that Park gave Kim Sang-min money to pay for motor vehicle rental fees. Kim Sang-min then allegedly used this money to pay for the vehicles as he attempted to win the People Power Party nomination for the Changwon Uichang district seat ahead of the April 10 legislative election last year.
Kim Sang-min was ultimately unsuccessful in his bid, and was eliminated during the primaries. But prosecution officials appear to think that Kim Keon-hee used her influence to help him run.
Rug Pull Suspect Summoned
The latest development appears to confirm reports from earlier this month. These claimed that the special prosecution team had asked to see the Park/scam coin case files.
Prosecutors think that Park and a CEO surnamed Moon stole hundreds of billions of won. They think the duo issued and listed a suspected scam coin named Atube in 2021.
They have also accused Park of masterminding a rug pull scam for a token named Podo Coin, also in 2021.
Market Opportunity
Threshold Price(T)
$0.006552
$0.006552$0.006552
USD
Threshold (T) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Botanix launches stBTC to deliver Bitcoin-native yield
The post Botanix launches stBTC to deliver Bitcoin-native yield appeared on BitcoinEthereumNews.com. Botanix Labs has launched stBTC, a liquid staking token designed to turn Bitcoin into a yield-bearing asset by redistributing network gas fees directly to users. The protocol will begin yield accrual later this week, with its Genesis Vault scheduled to open on Sept. 25, capped at 50 BTC. The initiative marks one of the first attempts to generate Bitcoin-native yield without relying on inflationary token models or centralized custodians. stBTC works by allowing users to deposit Bitcoin into Botanix’s permissionless smart contract, receiving stBTC tokens that represent their share of the staking vault. As transactions occur, 50% of Botanix network gas fees, paid in BTC, flow back to stBTC holders. Over time, the value of stBTC increases relative to BTC, enabling users to redeem their original deposit plus yield. Botanix estimates early returns could reach 20–50% annually before stabilizing around 6–8%, a level similar to Ethereum staking but fully denominated in Bitcoin. Botanix says that security audits have been completed by Spearbit and Sigma Prime, and the protocol is built on the EIP-4626 vault standard, which also underpins Ethereum-based staking products. The company’s Spiderchain architecture, operated by 16 independent entities including Galaxy, Alchemy, and Fireblocks, secures the network. If adoption grows, Botanix argues the system could make Bitcoin a productive, composable asset for decentralized finance, while reinforcing network consensus. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/botanix-launches-stbtc
Share
BitcoinEthereumNews2025/09/18 02:37
BlackRock boosts AI and US equity exposure in $185 billion models
The post BlackRock boosts AI and US equity exposure in $185 billion models appeared on BitcoinEthereumNews.com. BlackRock is steering $185 billion worth of model portfolios deeper into US stocks and artificial intelligence. The decision came this week as the asset manager adjusted its entire model suite, increasing its equity allocation and dumping exposure to international developed markets. The firm now sits 2% overweight on stocks, after money moved between several of its biggest exchange-traded funds. This wasn’t a slow shuffle. Billions flowed across multiple ETFs on Tuesday as BlackRock executed the realignment. The iShares S&P 100 ETF (OEF) alone brought in $3.4 billion, the largest single-day haul in its history. The iShares Core S&P 500 ETF (IVV) collected $2.3 billion, while the iShares US Equity Factor Rotation Active ETF (DYNF) added nearly $2 billion. The rebalancing triggered swift inflows and outflows that realigned investor exposure on the back of performance data and macroeconomic outlooks. BlackRock raises equities on strong US earnings The model updates come as BlackRock backs the rally in American stocks, fueled by strong earnings and optimism around rate cuts. In an investment letter obtained by Bloomberg, the firm said US companies have delivered 11% earnings growth since the third quarter of 2024. Meanwhile, earnings across other developed markets barely touched 2%. That gap helped push the decision to drop international holdings in favor of American ones. Michael Gates, lead portfolio manager for BlackRock’s Target Allocation ETF model portfolio suite, said the US market is the only one showing consistency in sales growth, profit delivery, and revisions in analyst forecasts. “The US equity market continues to stand alone in terms of earnings delivery, sales growth and sustainable trends in analyst estimates and revisions,” Michael wrote. He added that non-US developed markets lagged far behind, especially when it came to sales. This week’s changes reflect that position. The move was made ahead of the Federal…
Share
BitcoinEthereumNews2025/09/18 01:44
Dogecoin Price Could See A Major Spike To $10 If This Trend Repeats
The Dogecoin price may be on the verge of its most historic rally yet, as a crypto market analyst has boldly forecasted an explosive rally to $10. Pointing to historical
Share
Bitcoinist2026/03/07 05:30