The SEC has accused Kang of misappropriating a minimum of $371,000 in buyer funds for his private use, together with paying for holidays, tickets to sporting occasions and hire on his New York residence. Based on the SEC, Kang tried to cowl his tracks by giving traders falsified paperwork with “inflated checking account balances.” He additionally allegedly instructed traders that BKCoin had been audited by a “prime 4 auditor,” which the SEC stated by no means occurred.