Coin Company CEO Also Surprised by Kim Nam-guk's Investment... "Did It Affect His Legislative Activities?"

"Trading at Dawn and Late Night... Managing Around 8 to 9 Billion Won"

Kim Dong-hwan, CEO of the cryptocurrency consulting company 'Wonderframe,' pointed out that Democratic Party lawmaker Kim Nam-guk's coin operation scale had reached 8 to 9 billion KRW, saying, "It's too active a record for a member of the National Assembly."

On the 12th, Kim said on CBS's 'Kim Hyun-jung's News Show,' "Looking at the times when (transactions) left traces, most of the trading times were at dawn, night, or late at night. So I strongly wonder if it was possible to carry out legislative activities while doing this."

[Image source=Yonhap News]

He added, "Most of the (transaction) records tend to be concentrated on weekends, so it cannot be said to be impossible," but also said, "In the case of lawmaker Kim, according to the asset disclosure records, the amount was at most about 1 billion KRW, but if such a person suddenly has their assets increase tenfold and 150 million KRW moves back and forth in a day, it would be hard to put the phone down."

Kim said, "I did not actually vote for lawmaker Kim, but if I had, and this person was conducting legislative activities like this, I would dislike it," adding, "the annual salary of a member of the National Assembly is about 150 million KRW, and there is a reason for paying that salary. Anyway, investment returns are something anyone can pursue in a capitalist society, but I think this was a bit excessive."

The revelation of lawmaker Kim's wallet address came as cryptocurrency experts traced back based on the transaction records he disclosed. Kim said, "We identify by wallet address, and in lawmaker Kim's case, when he explained, he posted several screenshots of (transactions). Although the specific wallet address was not exposed there, certain dates, times, and identifiable information were revealed, and we traced back and found each one individually."

According to him, the identified transaction scale is about 8 to 9 billion KRW. Kim said, "This is just one of the wallets, so the total scale is actually unknown, but roughly summarizing the wallets linked to this wallet, it is about 8 to 9 billion KRW," adding, "at the time when the maximum amount of money was earned."

Kim also revealed that lawmaker Kim invested a huge sum of 3 billion KRW in ClayPay, a Korean-style coin with a concept similar to Basis Cash, the predecessor of Terra Coin. He said, "I thought he was a diligent person, somewhat like that, but after discovering what I am about to talk about now, I thought this was a problem," adding, "this is also from the wallet contents, and this person invested in ClayPay. ClayPay is actually not famous even now, and it was not famous at the time either."

Kim pointed out, "At that time, ClayPay was a minor coin that could not even be found on CoinMarketCap, a very famous global site that lists all the basic coins traded worldwide, and investing 3 billion KRW, which was more than 30% of the portfolio at the time when the most money was earned, is obviously not reasonable to anyone."