![]() ![]() ![]() ![]() The exchange posted on its website, writing: Regardless, Bithumb has responded by earmarking the token for possible delisting and has suspended trading in ARW while it conducts an investigation. Hancom, a publicly listed company, also denied financial irregularities and added that Kim had meant to speak of “cash” assets, not a “slush fund,” adding that the CEO had simply used an improper expression. Hancom has issued a number of statements on the matter since, denying that Kim owns Arowana and claiming that the CEO had simply made a “poor choice of words.” Another statement claimed that the transcript featured “distortions.” That’s the way it is.” He also appeared to say that a “slush fund,” or a reserve of money used for illicit purposes, had been created that “gave 5 million to 10 people to discuss ways to make money.” Per Paxnet, as well as Asia Kyungjae, Kim reportedly said “I own Arowana. Also in April, it appeared to have scored a major coup when ARW was listed on Bithumb, initially at a price of around USD 0.04 per token, but rising to almost USD 46 within minutes of the listing.īut the transcript, which was published by the major network TV station JTBC among others, appeared to feature a conversation involving Kim. Social media groups and some media outlets have featured a transcript allegedly featuring Kim speaking about a company named Arowana Tech, the developer of an altcoin named arowana token (ARW).Īrowana Tech received a large investment injection from the Hancom Group in April and has been working with the group’s Hancom With affiliate on blockchain-powered gold trading platform solutions. The South Korean software giant Hancom Group has angrily dismissed reports that its chairman Kim Sang-cheol has been operating a “crypto slush fund,” and is the secret owner of a token that was listed on the Bithumb exchange just months ago. ![]()
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