South Korean prosecutors are closing in on former First Lady Kim Keon-hee as a sprawling crypto fraud investigation takes a dramatic turn. Special prosecutors have requested official records linking Kim to an ongoing probe into crypto market maker Jon Bur Kim, better known as Park – a man who apparently thought escaping by boat was a solid career move in 2023.
The investigation centers on Park’s alleged manipulation of low-cap altcoins and scam coin operations, including gems like Atube and Podo. These schemes weren’t exactly small-time – we’re talking hundreds of billions of won in illicit gains. Such schemes often thrive during extended bear markets when investor desperation peaks. Authorities have seized Park’s extensive collection of luxury supercars and cryptocurrency, highlighting the massive scale of his alleged criminal enterprise. His attempted escape to China led to his arrest and multiple fraud charges.
Now prosecutors want to know if the former First Lady had her fingers in this particularly messy pie.
Investigators are digging deep to uncover whether South Korea’s ex-First Lady played a role in this cryptocurrency scandal.
Kim Keon-hee’s potential involvement comes at an especially awkward time, following her husband’s rather inglorious exit from the presidency. Former President Yoon Seok-yeol‘s failed attempt at declaring martial law in December 2024 led to his removal in early 2025. Talk about a political nosedive.
The plot thickens with Lee Jong-ho, former chief of Blackpearl Invest, who allegedly accepted a $58,000 bribe. Prosecutors are investigating whether Kim’s bank accounts were used to process these funds. Because nothing says “First Lady” quite like suspicious financial transactions.
Special Counsel Min Joong-ki isn’t playing around. The prosecution team has already summoned Lee Jong-ho and plans to bring in both Kim and her husband for questioning. They’re examining everything from direct fraud to indirect complicity, leaving no crypto-stone unturned.
The investigation has captured national attention, partly due to its timing amid recent government upheaval. With the former administration’s activities under intense scrutiny, prosecutors are piecing together a complex puzzle of market manipulation, influence peddling, and potential high-level corruption.
For Kim Keon-hee, it seems the crypto chickens might finally be coming home to roost.
