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Allegations of a ‘scam coin’ that has wreaked havoc in the YouTube community are spreading to the entertainment industry

Allegations of a ‘scam coin’ that has wreaked havoc in the YouTube community are spreading to the entertainment industry.

Comedians such as Kim Won-hoon from Short Box, Cho Jin-se and Star Bastards’ Na Seon-wook, who are popular YouTubers, have drawn a line amid suspicions of involvement in a coin scam, while Super Junior‘s Choi Si-won and Rainbow’s Cho Hyun-young have also denied any involvement in the ‘scam coin’.

They have been accused of being involved in the so-called ‘scam coin’, which was issued as a lure for listing. A ‘scam coin’ is a cryptocurrency designed for fraud, where funds are raised under the pretext of listing cryptocurrencies, only to disappear with the investment, or a fake cryptocurrency exchange is created to list the cryptocurrency and then turn it into worthless paper.

Company A was accused of issuing a ‘scam coin’ called Winners Coin to unlawfully attract investments. Those who had their pictures taken with them or were speculated to be involved in business-related matters were sequentially embroiled in allegations of involvement.

Kim Won-hoon and Cho Jin-se admitted to having two brief encounters through mutual acquaintances, but they emphasized that there were no business or financial discussions or transactions related to the coin.

They stated, “There were no business or financial discussions during those meetings, and there was no mention of the coin.” They added, “It’s unfortunate that we’re being misunderstood because of speculative posts and videos, and we will explain everything to the fans who are curious about this issue.”

Na Seon-wook, who has enjoyed popularity through appearances on SBS entertainment program “Big survival Meokjjippa”, also stated, “I attended birthday parties and year-end parties once each upon being invited by a creator I met at a gathering.”

He added, “I promise to continue creating content that subscribers will not be embarrassed about.”

Choi Si-won and Cho Hyun-young strongly denied any involvement in another scam coin controversy called Young Pay.

The Korea Youth Committee, which was launched to propose youth policies to the government and the National Assembly, issued a payment system similar to Zero Pay called Youth Pay in March 2022 and also issued a coin and listed it on overseas cryptocurrency exchanges. However, the coin’s chart plummeted after listing and was eventually delisted.

Recently, amid the turmoil in the YouTube community caused by scam coins, suspicions have arisen that Youth Pay may also be such a scam coin.

Choi Si-Won - AsianWiki

Choi Si-won was accused of being involved in the controversy surrounding Youth Pay after the Youth Committee announced that it would appoint him as an ambassador to promote the coin.

However, Choi Si-won stated through his YouTube channel on the 13th, “I have no connection whatsoever to the controversy surrounding the Korea Youth Committee’s Youth Pay.”

He emphasized, “I have not been appointed as a promotional ambassador. Although I have been awarded commendations at events organized by the Korea Youth Committee, this was solely for the purpose of setting a good example for young people and has nothing to do with the current controversy.”

Cho Hyun-young was implicated in the controversy because she had served as an ambassador for the Korea Youth Committee, which issued Youth Pay.

Rainbow Cho HyunYoung Kpop Profile - Kpopmap - Kpop, Kdrama and Trend  Stories Coverage

Cho Hyun-young stated, “At that time, I only thought that since the Youth Committee received support from the National Assembly, it would also be a public-spirited activity, so I thought it would help my image. I never expected Youth Pay to be associated with fraud or scams.” She added, “I only recognized it as part of the youth support projects carried out by the committee, so I didn’t even consider any doubts.”

Regarding the reports that she was appointed as an ambassador for Youth Pay by the Korea Youth Committee, she said, “I never imagined that Youth Pay would be associated with fraud later on, and since it was a project of the committee, I didn’t pay much attention to it. It’s late, but I plan to request a correction now.”

She also addressed the suspicions of having connections with individuals involved in scam coins, stating, “I met them a few times at gatherings with other acquaintances and agreed to take pictures with them in a friendly manner, but we were not close enough to meet separately.” She added, “I’m really sorry to have caused concern to everyone with this issue. Over the past 15 years, I can definitely say that I had no involvement in coin scams or any related matters.”


Author Nat.O
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