Investigation Team on CoinGate Suspects Kim Nam-guk of Money Laundering via KlaySwap

Report on Current Issues by Upbit CEO Lee Seok-woo on the 31st
"Will Submit a Request for Investigation to the Seoul Southern District Prosecutors' Office"

The People Power Party's Coin Gate Fact-Finding Team announced that they received a report from the virtual asset exchange Upbit stating that "Rep. Kim Nam-guk's transactions through KlaySwap are suspected of money laundering." Based on these circumstances, the investigation team plans to submit a request urging the prosecution, which is investigating Rep. Kim's allegations, to conduct an investigation.

On the morning of the 31st, the investigation team held its 4th plenary meeting at the National Assembly Members' Office Building and summoned Lee Seok-woo, CEO of Upbit, to review the suspicion of money laundering involving Rep. Kim's use of virtual assets.

Kim Sung-won, head of the investigation team (People Power Party lawmaker), told reporters after the meeting, "Upbit responded that from a general and expert perspective, Rep. Kim's transactions through KlaySwap are highly suspicious of money laundering and appear to be abnormal transactions." KlaySwap is a decentralized finance-type virtual asset deposit service that operates by exchanging one cryptocurrency for another without going through an exchange.

Kim, the team leader, explained, "When asked whether Rep. Kim had obtained transaction records, Upbit answered that when Rep. Kim visited Bithumb to receive transaction records, since Upbit is nearby, it is possible to assume that he might have also obtained transaction records from there."

Kim Seong-won, a member of the People Power Party, is presiding over the 4th meeting of the People Power Party Coin Gate Investigation Team held at the National Assembly Members' Office Building on the 31st. Photo by Kim Hyun-min kimhyun81@

The investigation team also revealed that they are conducting an investigation into the coin wallet addresses related to Rep. Kim's allegations. Yoon Chang-hyun, the secretary in charge, said, "Several wallet addresses appeared in the materials submitted by Wemade. These are wallet addresses where coins were deposited for large-scale marketing," adding, "We have commissioned a forensic analysis of the wallet addresses to a certain law firm, and if any unusual findings are discovered, we will disclose them to the media."

On the same day, the fact-finding team also demanded that Upbit provide all of Rep. Kim's transaction records. Lee Min-chan, a full-time deputy spokesperson and investigation member, said, "The investigation team requested all of Rep. Kim's transactions from Upbit, but they responded that it is impossible under current law," adding, "Upbit said they would disclose the records if they formally request and receive consent from Rep. Kim. Upbit will now make that request to Rep. Kim."

Kim Kyung-yul, an accountant and investigation member, claimed that on the 18th, when Rep. Kim's appearance at Gapyeong Rest Area was revealed, he personally visited Bithumb and Upbit to secure his transaction records and appears to have submitted them to the Democratic Party. Kim said, "Since the Democratic Party has publicly stated that it will also undergo verification by external personnel, it is necessary for the Democratic Party to provide the materials previously received from Rep. Kim to the People Power Party's fact-finding team for joint verification."

Based on the information reported up to that day, the investigation team decided to submit a "request for investigation" urging the Seoul Southern District Prosecutors' Office, which is investigating Rep. Kim's coin transaction records during the last presidential election period, to conduct a prompt and accurate investigation.

This content was produced with the assistance of AI translation services.