# KOK Coin Fraud: ₩69.8B Frozen After 4-Year Gap

> South Korean police freeze ₩69.8 billion in KOK Coin fraud funds after tracing first movement in 4 years.
- Title: KOK Coin Fraud: ₩69.8B Frozen After 4-Year Gap · BigGo Finance
- Summary: South Korean police freeze ₩69.8 billion in KOK Coin fraud funds after tracing first movement in 4 years. South Korean police have frozen ₩69.8 billion of…
- Keywords: koko coin, south korean police, korean won, ethereum, bitcoin, pre-indictment forfeiture, multi-level fraud, cold wallets, finance, markets, KOK, Coin
- Source: BigGo Finance — https://finance.biggo.com/news/c722ed09-22d9-4c95-91bb-c8536965091d
- Author: BigGo Finance
- Published: 2026-10-18T03:55:24+00:00
- Read time: 1 min
- Topics: koko coin, south korean police, korean won, ethereum, bitcoin, pre-indictment forfeiture, multi-level fraud, cold wallets, finance, markets
## KOK Coin Fraud Funds Frozen
South Korean police have confirmed ₩69.8 billion of ₩2.5 trillion KOK Coin fraud funds are subject to disposal prohibition measures.
## 17.3% of Forfeited Funds
This represents only 17.3% of the ₩404.4 billion in pre-indictment forfeiture and collection preservation orders granted by court.
## Ethereum Moved After 4 Years
Approximately ₩8.8 billion worth of Ethereum was recently moved from a dormant wallet that had been inactive for 4 years and 9 months.
## Converted to Bitcoin
The funds were converted into 82.517 Bitcoin via a bridge service (Hyperunit) with no further movement recorded.
## Police Unable to Decrypt Wallets
Authorities have been unable to decrypt seized cold wallets due to suspects' password concealment.
## Hidden Assets Unknown
The scale of hidden assets remains unknown as police cannot confirm the virtual assets stored in seized wallets.
## Victim Recovery Delayed
The first criminal trial is ongoing, preventing immediate return of frozen funds to victims.
## Trial Outcomes Impact Recovery
Victim recovery could shift based on trial outcomes, including guilty verdicts or dropped charges.
## Police Launch Pre-Booking Investigation
Police initiated a pre-booking investigation after detecting Ethereum movements from a dormant wallet.
## On-Chain Activity Detected
Core Security reported 2,600 Ethereum transferred to a suspect wallet on December 15, 2.6 billion in value.
## Funds Converted to Bitcoin
The funds were converted into 82.517 Bitcoin via a bridge service (Hyperunit) with no further movement recorded.
## Police Monitor for Laundering
Authorities are monitoring for money laundering attempts after detecting recent fund movements.
## Key takeaway

South Korean police have frozen ₩69.8 billion of ₩2.5 trillion in KOK Coin fraud funds, marking the first fund movement in four years.