In 2014, Ripple 
$2 Labs initiated the sale of XRP ($2.30) through its project “Ripple Market Korea” in South Korea. This process sparked debates about the company’s sales methods, with Ryan Kim, a partner at Hashed, labeling Ripple’s initiative as a “Ponzi” scheme on social media. Ripple’s activities during this period significantly influenced the formation of a robust XRP community in South Korea.
Ponzi Allegations Against Ripple Market Korea
Ripple Market Korea commenced operations in November 2014, completing its first sale within just two hours on opening day. The platform introduced not only XRP launched by Ripple Labs but also its own token, RMK. It promised RMK token holders a share of revenues generated from transaction fees, which attracted investor interest.
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