ChainCatcher reported that at the National Assembly Audit Meeting held in Seoul, lawmakers called for a special investigation into the KOK cryptocurrency scam. According to the Victims Alliance, two subsidiaries of Chosun Ilbo knew that KOK was a scam and actively promoted it, resulting in a loss of 4 trillion won (about 2.97 billion US dollars).

IT Chosun, a business news department of Chosun Ilbo, reported an important milestone of KOK in April 2022. Two months later, another subsidiary, Digital Chosun, awarded KOK the "Consumer Satisfaction" Award.

KOK tokens attracted nearly 2 million investors worldwide. From 2019 to 2023, investors could consume Korean dramas, movies and games through the KOK PLAY platform and exchange KOK tokens for Bitcoin at a handling fee of 7-12%. Investors can also earn commissions by recruiting other investors. KOK is essentially operating a Ponzi scheme and a multi-level marketing plan.