South Korea’s Hashed Under Tax Investigation

The investment firm announced $200 million in new funding last week.

Dec 7, 2021 at 8:21 a.m. UTC
Updated Dec 7, 2021 at 3:18 p.m. UTC

South Korean crypto investment firm Hashed is being investigated by Seoul tax authorities, CoinDesk Korea reported on Tuesday.

  • The 4th Bureau of Investigation of Seoul’s Regional Tax office, which is handling Hashed’s case, is responsible for cases of tax evasion and fraud, according to the report. The reason for the audit hasn’t been disclosed.
  • No company investigated by the 4th bureau has been reported for prosecution in the past year, CoinDesk Korea noted, concluding that it is unlikely that Hashed will be.
  • The investment firm announced a $200 million fundraising for Web 3 projects just last week, adding to its $120 million in funding from last December. It is one of the best-known South Korean crypto investors; its portfolio includes games like Axie Infinity and The Sandbox, as well as Terra, the blockchain behind the LUNA token.
  • Hashed told CoinDesk Korea that it cooperated with the investigation and handed over all the requested information.
  • South Korean legislators last week decided to delay a new capital gains tax on crypto by one year.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.