South Korean prosecutors are digging deeper into a growing scandal involving former First Lady Kim Keon-hee, as they explore a possible connection to a notorious crypto market manipulator linked to fraudulent altcoin schemes.
The special investigation team looking into Kim’s alleged abuse of power has formally requested access to case files tied to Park, a 44-year-old crypto market maker known online as “Jon Bur Kim.”
Park, whose real surname is Park, is currently facing trial for orchestrating multimillion-dollar “scam coin” operations that allegedly defrauded investors out of hundreds of billions of won.
According to South Korean outlet OhMyNews, prosecutors are now reviewing whether Kim or any of her close associates were tied to Park’s activities.
Park, known online as "Jon Bur Kim" (left), and former First Lady Kim Keon-hee (right)
The outlet reported,
“If the special prosecution team requested the investigation records related to Park, it cannot be ruled out that Kim Kun-hee or someone close to her was involved in the scam coin case, or Park’s alleged crimes, investigation, or trial.”
Kim is under scrutiny for alleged corruption and influence peddling during her husband Yoon Suk-yeol’s presidency.
Yoon was removed from office in early 2025 after an attempted martial law declaration failed in December 2024.
One key figure in the widening investigation is Lee Jong-ho, a former investment executive with ties to Kim.
On 21 July, prosecutors summoned Lee for questioning after raiding his home and car days earlier.
Lee once led Blackpearl Invest and is accused of accepting a ₩80 million (roughly $58,000) bribe from a car industry executive involved in a separate stock price rigging case.
Investigators suspect Lee used his proximity to Kim to influence court decisions—allegedly pressing judges to grant the executive a suspended sentence.
Translation:
Kim Keon-hee “40% profit sharing with Black Pearl”
A voice file has emerged indicating a promise to share profits upon successful stock price manipulation.
-> The prosecution already knew about it, hehe.
Authorities believe Lee had access to Kim’s personal bank accounts and may have used them to handle the bribe money.
Park’s crypto empire came crashing down in dramatic fashion.
In December 2023, he attempted to escape to China by boat, only for a storm to force the vessel back to shore.
The Coast Guard, concerned for the safety of the crew, boarded the ship and found Park stowed away.
He had built a flashy online persona, flaunting imported supercars and luxury goods.
Prosecutors have since seized his assets, including his vehicles, large amounts of cryptocurrency, and real estate holdings both in South Korea and overseas—reportedly worth hundreds of billions of won.
Park’s charges stem from two major altcoin schemes.
In 2021, he and software CEO Moon were indicted for issuing and listing a cryptocurrency named Atube, which prosecutors believe was designed solely to siphon investor funds.
That same year, Park is accused of running a similar operation involving another token called Podo, embezzling ₩80 billion using the same playbook.
Both coins were low-cap projects promoted heavily online before collapsing.
Investigators continue to probe Park’s network, with several associates also under legal scrutiny.
While no formal charges have been laid against Kim Keon-hee in the crypto-related matters, the request for Park’s investigation files signals prosecutors are pursuing potential financial and political ties between the former First Lady’s inner circle and one of the country’s largest crypto fraud cases.
Special prosecutor Min Joong-ki is leading the charge and has yet to publicly confirm any direct link.
However, his focus on individuals like Lee, and the timing of record requests, suggests a coordinated effort to uncover whether public power and private greed crossed paths in South Korea’s highest circles.
Lazada Malaysia is launching AI Lazzie, an AI-powered shopping assistant that offers personalised recommendations and fun features for the 11.11 sale. The platform also introduces virtual try-ons and aims to improve the AI shopping experience based on growing consumer demand in Southeast Asia.
AnaisElon Musk hinted at support for abolishing the Federal Reserve by sharing a post from Senator Mike Lee, who called for greater executive oversight of US monetary policy. Musk’s apparent endorsement has stirred debate, with many questioning the wisdom and impact of this proposal.
CatherineCharles Hoskinson has launched a policy office to push for clearer crypto regulations in the US, hoping to work with the incoming Trump administration. The move has sparked a 35% rise in Cardano's ADA price, reflecting investor optimism for regulatory progress.
AnaisDelabs Games, creator of Rumble Racing Star, is diving into Telegram’s TON ecosystem with a Ragnarok release in Q1 2025, followed by Boxing Star in Q3—broadening its gaming presence and fan engagement on the platform.
KikyoPolymarket is considering a token launch to sustain its recent trading surge. However, it faces challenges, including growing regulatory scrutiny. The key question is whether it can maintain its post-election momentum or will be remembered solely for its election-driven success.
CatherineRoman Sterlingov, founder of the Bitcoin Fog crypto mixer, was sentenced to 12.5 years in prison for laundering over $400 million linked to illegal activities. He was also ordered to forfeit $395.5 million and his share in a Bitcoin wallet holding 1,345 BTC, worth over $103 million.
WeatherlyByteDance is expanding its AI efforts with Doubao, a chatbot now capable of generating realistic videos from text and images. This move strengthens ByteDance's position in China's fast-growing AI market, though it faces tough competition from rivals like Kuaishou.
WeatherlyA South Korean court upheld a bank’s decision to fire an employee for “habitual” crypto gaming and improper private money lending to clients, uncovered in an internal audit. The employee appealed, claiming the dismissal was unjust.
KikyoFour foreign nationals were arrested in Thailand for a robbery on 8 November, where they forced a Ukrainian tourist, Viacheslav Leibov, to transfer 250,000 USD in cryptocurrency. The suspects, who had prior connections to the victim, were charged with armed robbery, unlawful detention, and coercion.
WeatherlyDespite over 50% drop in TON’s TVL since July, Bitget Wallet and Foresight Ventures are reinforcing support for Telegram’s Mini App ecosystem with a $20 million grant to boost growth and innovation.
Catherine