BTS’ Jungkook has become prey to identity theft that resulted in the illegal transfer of his HYBE stocks worth 8.44 billion Won (approximately $6.3 million). As per reports, the perpetrator moved the stocks while Jungkook was fulfilling his mandatory military service.

As per a Biz Hankook report, the fraudulent activity took place on January 6, 2024. This was just a month after BTS’ Jungkook enlisted. The unidentified individual allegedly opened three securities accounts under the singer’s name. He leveraged his name to transfer 33,500 shares of HYBE without authorisation. Out of these, the culprit moved  33,000 shares, valued at around 8.3 billion Won, to a different account under Jungkook’s name. On the other hand,  the individual sold 500 shares, worth 126 million Won to a third party.

Advertisement

Given the level of access required for the illegal act, people suspect that the perpetrator may have been someone familiar with Jungkook’s personal information. These include sensitive information including his banking credentials, identification details, and securities account data.

 

View this post on Instagram

 

A post shared by BigHit Music Updates (@bighit_ent)

Upon discovering the unauthorised transfers, Jungkook’s agency, BIGHIT Music, froze all of his accounts, to prevent further financial damage. Moreover, Jungkook filed a civil lawsuit in March 2024. In his complaint, he requested the return of the 500 shares sold to the third party. Seoul’s district court ruled in his favour. The court stated, “There was no valid stock transfer agreement, and Jungkook is merely a victim of identity theft.” The court rejected the third party’s defence, stating “they were negligent for not verifying the stockholder’s identity, especially knowing the shares belonged to a key shareholder.” Moreover, the court also ordered the third party to return the funds they owed the K-pop icon.  The party used the funds to purchase the stolen shares for roughly $20,000 (in the form of cryptocurrency).

However, despite the court ruling, the real perpetrator behind the account theft remains unidentified. An investigation has been launched, however, there have been no solid leads yet.

Also Read: ‘Way Back Love’: New stills promise Gong Myung and Kim Min Ha’s fluttering chemistry