CEO of South Korean entertainment company Cube accused of involvement in crypto investment scam
Kangseung-kon, CEO of Korean entertainment company Cube Entertainment, has been accused of participating in a cryptocurrency investment scam. He is suspected of encouraging acquaintances and colleagues to invest in Nest, a cryptocurrency under the Korean blockchain company Nest Media Group. On March 28, 2022, Nest reached a price of 59 Korean won, but dropped 34% to 39 Korean won within a month, and fell to single digits by the end of the year. Previously, Cube Entertainment had partnered with the Animoca brand to establish a joint venture focused on NFTs in 2022.
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