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You Won’t Believe How Korea’s Biggest Newspaper Made Off Billions by Selling Fake Crypto to Elderly Grandmas

Crypto NewsFeaturedInstitutional Investors Sam Rogers October 11, 2024

A illustration of a newspaper headline with a red 'X' marked through it, surrounded by chaotic scenes of elderly grandmas frantically selling their belongings to invest in cryptocurrency, while a group of greedy recruiters lurk in the shadows, holding stacks of cash and laughing maniacally. In the background, a massive graph shows the rapid collapse of the KOK token's value.

Seoul’s got another cryptocurrency mess to deal with – this time, it’s Korea’s largest newspaper being called out for its alleged role in the KOK token scam that wiped out investors’ life savings by a whoppin $3 billion! South Korean lawmakers Yang Moon-suk and Min Hyung-bae are calling for an investigation into how Chosun Ilbo promoted the fake coin, which promised monthly returns of up to 20%. Yeah right, because nothing says ‘legit investment opportunity’ like being told you’re gonna get rich quick with a token that’s basically worthless. The victims are saying it was all just a multi-level marketing scam designed to separate them from their hard-earned cash.

Source: bitcoin.com

South Korean Lawmakers Call for Full Investigation Into KOK Token Crash
https://news.bitcoin.com/south-korean-lawmakers-call-for-full-investigation-into-kok-token-crash
Two South Korean lawmakers have called for a full investigation into the KOK token after its value collapsed to almost zero. Victims have accused Korea’s largest newspaper of promoting the scam, sparking concerns about its role. The alleged cryptocurrency fraud has caused an estimated $3 billion in losses, affecting about 1.86 million investors worldwide. South Korean lawmakers Yang Moon-suk and Min Hyung-bae urged a full investigation into an alleged cryptocurrency […]

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Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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