BTS's Jungkook Loses $5.6 Million, Falls Victim to Identity Theft

BTS member Jungkook has fallen victim to a sophisticated identity theft scheme, resulting in an attempted heist of HYBE Corporation stocks valued at approximately 8.44 billion KRW ($5.6 million).

The incident, which occurred on January 6, 2025, took place while the K-pop idol was serving his mandatory military duty, leaving him vulnerable to financial exploitation.

According to reports from Biz Korea, the perpetrator allegedly opened three unauthorized securities accounts under Jungkook's name and proceeded to transfer 33,500 shares of HYBE stock to these fraudulent accounts.

In a brazen move, the scammer managed to sell 500 of these shares, worth approximately 126 million KRW ($86,000), to an unsuspecting third party.

The Seoul Western District Court has ruled in favor of Jungkook, declaring that no valid stock transfer agreement existed and that the artist was clearly a victim of identity theft. The court ordered the third-party buyer to return the illicitly acquired shares, dismissing their claim of good faith purchase.

The buyer had initially paid 20,000 USDT (a cryptocurrency) for the 500 shares but later withdrew their appeal against the court's decision.

While Jungkook has successfully reclaimed his shares, the identity of the mastermind behind this elaborate scheme remains unknown. Authorities suspect that someone within the artist's inner circle may be involved, given the perpetrator's comprehensive knowledge of Jungkook's financial information, including account numbers and passwords.

Big Hit Music, Jungkook's management agency, has confirmed that they took immediate action to halt unauthorized transfers and restore his accounts. The agency stated, "We implemented enhanced security measures to protect the artist's personal and financial data".

This incident highlights the vulnerability of high-profile individuals to financial crimes, even during periods of military service. As investigations continue, the case serves as a stark reminder of the importance of robust security measures in protecting personal assets, especially for public figures in the entertainment industry.