The police raided Hancom Weed, an affiliate of Hangul and Computer, a software company suspected of raising slush funds.
Kim Sang-cheol, chairman of Hangeul and Computer, is suspected of creating a slush fund by manipulating the market price after creating the virtual currency Arowana Token through its affiliate Hancom With.
In the transcript released in October of last year, there was a backside contract with the actual owner of Arowana Token as Chairman Kim, and it was instructed to create a slush fund with tokens.