Sudden Cyworld Shutdown Puts Clink Crypto Investors at Risk: Report

Sudden Cyworld Shutdown Puts Clink Crypto Investors at Risk: Report 1  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

South Korea’s Cyworld social media platform shuttered its services on Oct. 1 without giving any prior notice, English-language local media The Korea Times reported on Oct. 14. What’s more, the website for its Clink (CKCT) crypto-asset has also become inaccessible. In response to the news, local cryptocurrency exchanges supporting Clink, namely CoinZest and BitSonic, are now considering delisting the token. Moreover, some investors who bought Clink are reportedly considering filing a lawsuit against Cyworld and its CEO, Jeon Jae-wan. Great losses are expected for investors Unspecified industry officials reportedly estimate…