In addition, the public is very interested in the size of the virtual assets owned by Assemblyman Kim Nam-kook of the Democratic Party. In a public apology posted on his Facebook page on May 5, Congressman Kim claimed that "all transactions were transparently transacted only with my wallet through a real-name verified account," and that "it is also outrageously false that I used undisclosed information or received an inheritance gift," and said that he would actively cooperate with the party's recommendation to sell virtual assets and the fact-finding investigation.

This apology rather increased the controversy. There are a lot of unresolved allegations, and the amount of money in question is large. It's a chaotic situation where new allegations are being raised every day.

Why is it important? - Buy, sell, how much is left

What makes this series of events feel stranger and more complicated is that at the center of the allegations are virtual assets, so-called "coins." It's a virtual asset account, an exchange, and it's hard to transfer, right? But if you knock out the side branches and clear up the core suspicions, here's what it looks like. One line that reminds me of the work of the French artist Gauguin. Where did Congressman Kim's coin money come from, where did it go, and how much is left?

To explain a little more - 'A lot of unknown money, it's also a very big money'

It started with a report by the Chosun Ilbo on May 5. Lawmaker Kim Nam-guk, who declared his assets as 5.15 billion won, turned out that he had more than 2022,1 coins called 'Wemix' in January ~ February 2. Of course, a lawmaker's virtual assets are not illegal even if they are not declared.

This amount of money was more than I imagined, so it became a problem. At that time, the market price was up to 80 billion won. It is news that Congressman Kim, who is known as a "thrifty fellow," turned out to be a "big coin hand," but the issue was that a huge amount of coins were withdrawn in late February ~ early March, before the presidential election (March 60) and the implementation of the virtual currency trading real-name system (called the "Travel Rule") (March 3).

Just before the implementation of the 'Travel Rule', which obligates exchanges to record and store the information and details of people who exchanged virtual assets, a huge amount of money was withdrawn, and it happened to coincide with the presidential election, but Congressman Kim himself sniped at the report, saying, "Some people are making up ridiculous statements as if they were used as presidential campaign funds after withdrawing a large amount of virtual assets at a certain time, turning them into cash."

He explained that (9) the actual cash withdrawal was spent by drawing 3.25 million won from an ATM (not presidential campaign funds) (2) The coin was bought with the price of selling LG Display shares held in January ~ February 3 (1) The current value of virtual currency is about 440 million won.

It was ironically he himself who turned what almost became a so-called "qualification controversy," such as "shouldn't I be a member of the National Assembly?" back to Congressman Kim's personal suspicions. In the process of clarification, he captured and released his securities, deposits, and virtual asset account transfers as "evidence," which came back as a boomerang.

One more step – coin transactions recorded in digital ledgers

All coin transactions are recorded in a digital ledger. This is the hallmark and essence of blockchain trading. Since it is recorded in a ledger that is open to everyone, it is not easy to manipulate or conceal. You can think of each coin in circulation as having a chain in which its own 'block' is generated.

Of course, you can't check exactly who owns the wallet and for what purpose the transfer is made in the ledger that contains the details of buying and selling coins, but it does record how much and when one account (wallet) traded with another account.

For this reason, users who are familiar with coin trading are accustomed to tracking transactions and deducing who owns the account whenever a particular account changes the price of the coin market through huge purchases and sells. In many cases, the accounts of so-called "big hands" are identified according to this tracking method.

In the case of Congressman Kim, he submitted several "Exchange Real Name Certification Confirmations" to prove his position that he made transparent transactions under his real name. Among them, Kakao affiliate Ground X captured the date and time of signing up for a virtual asset storage wallet called 'Klip' and the screen of three types of coin deposit amounts that obscured their names. This information was key.

The virtual asset community 'Byeon Changho Coin Academy' and the online coin media 'Digital Asset' have been inspired by the fact that there are usually small amounts of virtual assets or NFTs that are provided free of charge when you join a new virtual asset account (wallet). So it's kind of like a 'welcome drink' or 'welcome coupon'. Since this is also a virtual asset, it is recorded in the blockchain ledger. Both the giving and receiving accounts are recorded.

When we extracted the details of these "welcome asset" transactions on January 3, the time of Congressman Kim's account opening, we found 1,20 accounts, and it is said that out of the three coin assets that Congressman Kim presented together, only one (!) account with matching amounts without a single error of one won was identified. It is the result of a backtracking that would not have been easy to identify if it were not for the "hint" provided by Congressman Kim himself.

And when we looked at the previous transaction history of the account, more than 1.310 million Wemix coins, which were worth up to 3 billion won based on the market capitalization at that time, far exceeded the 1,80 originally known. So far, Congressman Kim has not taken any position on the authenticity of the account or the additional coins found.

(The rest of the story is from the soup)