SEOUL, March 22 — BTS star Jungkook has found himself at the centre of a stock fraud while serving in the military, with scammers attempting to swipe 8.44 billion won (RM25.4 million) worth of his Hybe shares.
According to Biz Korea, the fraudster took advantage of Jungkook’s absence during his basic training, sneakily transferring 33,500 of his shares to a new account without his permission.
They even offloaded 500 shares to a third party before the scam was uncovered.
Biz Korea added that the dodgy dealings went down on January 6, 2024, shortly after Jungkook enlisted.
Investigators later discovered that the culprit had set up three securities accounts in Jungkook’s name without him knowing, using them to move and sell his stocks.
The total unauthorised transfer amounted to 33,500 shares, worth around 8.316 billion won as of January 5. Of these, 500 shares, valued at 126 million won, were sold.
Biz Korea reported that Jungkook took legal action against the buyer this month, demanding the shares back.
The Seoul Western District Court ruled last month that there was no legitimate contract and ordered the shares to be returned.
The third party, who had paid 20,000 USDT (Tether) in crypto for the stocks, argued they had made a genuine purchase, but the court wasn’t convinced. Their appeal was dismissed this month, Biz Korea said.
As for the mastermind behind the fraud, they remain a mystery.
Given their access to Jungkook’s financial details — including account numbers and passwords — authorities suspect someone from his inner circle may be involved.
A securities firm insider also revealed to Biz Korea there were attempts to siphon off cash along with the stocks.
Big Hit Music, Jungkook’s agency, confirmed they had stepped in immediately to stop the unauthorised transfers and restore his accounts.
“We took swift action to prevent any actual financial losses and are also implementing stronger security measures to safeguard the artist’s personal and financial information,” the company said in a statement.
Though Jungkook has reclaimed his shares, the case leaves many questions unanswered — most importantly, who was behind the scam? Investigations are ongoing.
