South Korea's National Tax Service (NTS) has launched an investigation into blockchain firm Hashed, Aju News has reported.
According to publication, officials from the Investigation Department have visited Hashed's headquarters unannounced. The unit handles cases of tax evasion and illegal fundraising.
The reasons for the investigation have not been reported for the time being. The verification should be completed in February 2022.
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A senior NTS official has said:
"We cannot disclose information about tax investigations against individual companies."
The blockchain company was founded back in 2017 and is based in Seoul. According to its website, its mission is to accelerate the mass adoption of blockchain by "investing its own resources and empowering a new wave of entrepreneurs and innovators."
Last December 1, Hashed created a $200 million fund focused on the Web 3.0 ecosystem. A year earlier, the blockchain company raised $120 million for a fund to support DeFi projects and startups.