Hashed co-founder: Ripple Labs once sold XRP in South Korea in a "Ponzi scheme" manner, and there is a real XRP community in South Korea

ChainCatcher news, Ryan Kim, founding partner of the crypto investment firm Hashed, stated on social media that in 2014, Ripple Labs sold XRP in South Korea through the "Ripple Market Korea" project in a "Ponzi scheme" manner, attracting a large number of South Korean investors. These early investors may have received substantial returns, and there is a real XRP community in South Korea, which is why many Koreans are buying XRP.

According to a report from South Korean media in November 2014, the platform operator Ripple Market Korea completed its first round of sales within 2 hours on its opening day. The platform issued its own token RMK, promising to return transaction fee profits to users based on their holdings. At that time, the platform promoted advantages such as the ability to exchange XRP with various national currencies, investment from Google Ventures, and compliance with U.S. regulations.