Prosecutors Summon MetaKongz CEO as Witness in Kim Nam-guk's 400 Million Investment Case

The prosecution investigating allegations that independent lawmaker Kim Nam-guk holds a large amount of virtual assets is reported to have summoned the CEO of the NFT (Non-Fungible Token) project ‘MetaKongz,’ in which Kim invested 400 million KRW, as a witness for questioning.

[Image source=Yonhap News]

According to industry sources on the 13th, the Seoul Southern District Prosecutors' Office summoned Namo, the CEO of MetaKongz, at the end of last month to investigate the circumstances during the ‘MetaKongz incident’ and the flow of funds.

In February last year, Kim purchased about 57,000 MetaKongz’s Mekong Coin (MKC) worth approximately 390 million KRW at the market price at that time. The MKC was priced around 7,000 KRW per coin, but just four days after Kim’s purchase, the price surged 2.6 times to 18,450 KRW, and the value of his holdings once exceeded 1 billion KRW. Although Kim did not sell all his MKC at the peak, he sold more than half of his holdings in 17 transactions.

Industry insiders are raising suspicions of insider information provision since the price skyrocketed immediately after Kim’s purchase. Attention is also being drawn to the connection between last year’s unpaid wages incident involving MetaKongz employees and Kim’s ‘Coin Gate’ case.

Meanwhile, the prosecution is accelerating the investigation, including reviewing the application of bribery charges related to Kim’s alleged large-scale virtual asset holdings.

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