Han Ji-Wook, a central figure in the KOK Play token fraud, was arrested in the U.S. last year but later released on bail. He now awaits a deportation hearing on June 10. The scheme, estimated at $3 billion, affected 900,000 victims worldwide, including many Korean Americans.
Massive Fraud Scheme in LA
Han and his team promoted KOK Play as a blockchain-based content platform, but authorities say it was a Ponzi scheme. Investors purchased tokens and deposited them in exchange for promised profits. However, the platform relied on money from new investors to pay old ones. Those who recruited others earned bonuses, deepening the fraud.
The platform expanded to Los Angeles in 2021, where it targeted Korean Americans. Park Myung-Ja, a victim, lost $280,000 after attending a Koreatown investment seminar. “The LA center held daily meetings, sometimes with 300 attendees,” she said. “I believe 10,000 people in the U.S. were scammed.”
Another investor, Na Yoon-Ja, initially put in $300 but later increased her investment to $80,000. “They encouraged more investment over time,” she said.
Push for Extradition
Jin Eun-Ja, head of the KOK Victims’ Association, traveled to the U.S. to demand Han’s swift extradition. “I heard Han is gambling in Las Vegas without remorse,” she said.
Jin confirmed that Interpol issued a red notice for Han. “U.S. authorities arrested him in April last year for money laundering and tax evasion but later released him on bail,” she said. “The court has now scheduled a deportation hearing for June 10.”
Legal Action Against Key Players
Han, who designed KOK Play and its token system, has been named as a key conspirator. On December 30, the Ulsan District Prosecutors’ Office filed an indictment against Kim Pan-Jong, former CEO of Medium, a company tied to KOK. The filing identified Han as a major figure in the scheme.
On March 18, Jin and victims in Los Angeles protested outside the Korean Consulate, demanding Han’s immediate extradition to South Korea.
BY KYEONGJUN KIM [kim.kyeongjun1@koreadaily.com]
