Six of these coins, Chun told the outlet, were airdrops to EOS coin holders, while three others were airdropped to XRP owners.
“[We] sold everything that could be sold. [We] are left with only small amounts of [dust] that cannot be traded.”
Chun Ha-ram, New Reform Party Lawmaker
Bitcoin Sell-off
The media outlet also gave the example of Democratic Party lawmaker Kim Jun-hyeok, who declared that he owned 114.2 million won ($85,700) worth of Bitcoin (BTC).
However, Kim Jun-hyeok has since claimed he “disposed of all” of his BTC “after declaring it.”
On the other side of the house, the People’s Power Party lawmaker Park Chung-kwon reported owning 58.8 million won ($44,128) worth of Solana (SOL) before the election.
But Park also said he had sold all of his SOL holdings in February this year.
Scandal Pushing Lawmakers Away from Crypto?
The media outlet added that records show that many lawmakers have also sold many of their holdings immediately after they received airdropped coins.
A US Army soldier who ran across a border into North Korea from the South pleaded guilty to five charges including desertion https://t.co/xCbbO3XB6I
— Bloomberg Politics (@bpolitics) September 21, 2024
However, the records do make interesting reading for domestic crypto enthusiasts.
They indicate that certain lawmakers have been extremely active in the past on both the BTC and the altcoins markets.
One lawmaker declared owning crypto wallets for some 45 altcoins. But the same MP calculated these coins as having a worth of just over $580.
Kim Nam-guk, meanwhile, is set to face trial over ongoing allegations. Last month, prosecutors indicted the former Democratic Party MP on charges of using crypto to hide his assets.
Prosecutors think he used cryptoassets to hide almost $7.5 million worth of his wealth.