On-chain analysis has for the first time identified fund-movement patterns linking wallets presumed to belong to KOK Foundation operators with $91.9 million in outflows through eight domestic and overseas cryptocurrency exchanges between January and October 2022. The KOK coin multilevel fraud case involved 570,707 victims in South Korea and abroad and alleged damages of 2.5759 trillion won, or about $1.9 billion, according to a report released by Core Security's Digital Financial Crime Investigation Agency. The report found that $88.31 million, or 96% of the corporate-wallet outflows, moved through overseas exchanges, including $82 million through KuCoin. A separate wallet presumed to belong to the alleged ringleader received about 40 million KOK coins, with 24,835,010 sent to KuCoin and 37.73 million USDT later obtained through conversions. The fund movements overlapped with KOK Play's withdrawal problems, the end of its Korean-language service in March 2022 and the token's subsequent collapse. The findings cover only part of the total damages and do not by themselves establish the identities of wallet owners, which investigators say requires exchange KYC information and international cooperation.