Former Cyworld Z CEO seeks probe into RYSEN marketing tied to Cyworld brand

Former Cyworld Z CEO Kim Ho-gwang said he will ask financial authorities and other relevant agencies to investigate after receiving a tip that materials were being circulated to induce purchases of unlisted cryptocurrency RYSEN using the Cyworld brand, Digital Asset reported. Kim also disclosed a complaint document titled 'Request for an investigation into deceptive investment inducement involving RYSEN and Sigma Chain Cyworld use' on the same day. Kim raised concerns about RYSEN’s operating structure, arguing that the token runs on the Sigma Chain mainnet and that authorities need to determine whether its actual wallet operations make it subject to virtual asset service provider, or VASP, reporting requirements.