Prosecutors Conduct Search and Seizure at WEMADE, the WEMIX Issuer Held by Kim Nam-guk

The prosecution investigating various allegations surrounding Rep. Kim Nam-guk's holding of the cryptocurrency 'Wemix' reportedly conducted a search and seizure at Wemade's headquarters last week.

Independent lawmaker Kim Nam-guk is leaving his office at the National Assembly on the afternoon of the 31st.
[Photo by Yonhap News]

According to the legal community on the 1st, the Criminal Division 6 of the Seoul Southern District Prosecutors' Office (Chief Prosecutor Lee Jun-dong) conducted a search and seizure at Wemade's headquarters located in Bundang-gu, Seongnam-si, Gyeonggi Province over two days on the 24th and 26th of last month. It was confirmed that the prosecution obtained a search warrant with Wemade as a reference and conducted the investigation. The Criminal Division 6 is investigating the so-called '6 billion won coin allegation' case involving Rep. Kim Nam-guk.

The Criminal Division 6, which is investigating allegations related to Rep. Kim Nam-guk, also conducted a search and seizure of virtual asset exchanges such as Bithumb and Upbit, where Rep. Kim was known to have traded, on the 15th of last month. At that time, the search warrant for the exchanges reportedly included charges such as violation of the Political Funds Act, tax evasion, and concealment of criminal proceeds.

According to political circles, Rep. Kim Nam-guk held approximately 800,000 Wemix tokens worth about 6 billion won between January and February of last year, and it is understood that he withdrew them before March 25 of that year, when the Travel Rule, known as the 'coin real-name system,' was implemented.

Regarding these controversies, Rep. Kim previously stated that some of the virtual assets were acquired through an 'Air Drop' method, where the issuer provides tokens free of charge for marketing purposes.

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