Hashed Partner: Ripple Labs once sold XRP in South Korea in a Ponzi Scheme manner and established a community foundation in South Korea

On December 2, Ryan Kim, a partner at the encryption 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 Korean investors to participate. These early investors may have already received substantial returns, and there is a genuine XRP community in Korea, which is the reason why Koreans have purchased a large amount of XRP. According to Korean media reports in November 2014, the platform operator Ripple Market Korea completed the first round of sales within 2 hours on the opening day. The platform's own Token RMK promised to return transaction fee revenue to users in proportion to their holdings. At that time, the platform promoted the advantages of XRP being able to exchange with various national currencies, receiving investment from Google Ventures, and complying with US regulations. It is worth noting that the platform also warned investors to guard against multi-level marketing activities that sell XRP at 10-20 times the market price.