According to the local media reports, the representatives of the South Korean tax agency visited the company without explanation

​An investigation has been initiated against the South Korean Hashed exchange

07.12.2021 - 11:15

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What’s new? The Hashed crypto investment company is currently under investigation by South Korea's National Tax Service (NTS). The local media reports that the exact nature of the investigation is unclear.

Information from the local media

What does the agency say? The NTS officials visited the company's headquarters without warning but said they could not voice the reasons for the visit. They added that the investigations into small businesses without prior notice are related to tax evasion by the companies. The investigation began in November and is due to be completed by the end of February 2022 at the latest.

What is known about the company? Hashed is one of South Korea's best-known crypto investment firms. It was founded in 2017 by Simon Seokoon Kim, Ethan Kyuntae Kim, and Ryan Sungho Kim. All three are formally listed as CEOs. Hashed launched its $200 million Venture Fund II on December 1, a year after launching the $120 million Venture Fund I. The latter fund will focus on Web3 growth opportunities.

Hashed has an investment portfolio of more than 80 companies, including several cryptocurrency networks such as Klaytn and Cosmos, the DeFi protocols such as MakerDAO and Synthetix, and NFT brands like The Sandbox and Axie Infinity.

Author:

Tatiana Darda Tatiana Darda

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