BTS Star Jungkook Targeted as Hackers Steal $28.1M from South
0crypto scam
Hackers
South Korea
A Chinese-led ring cracked six public and financial portals, spun 258 stolen identities into burner SIMs, then siphoned ₩39B from chaebol chairs to a BTS star—until Seoul police cuffed 16 across borders.
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Hassan Shittu
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Hassan Shittu
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South Korean police have dismantled an international hacking ring accused of stealing nearly 39 billion won ($28.1 million) from some of the country’s wealthiest and most high-profile figures, including BTS member Jungkook.
The Seoul Metropolitan Police Agency’s Cyber Investigation Unit announced on the 28th that 16 suspects had been arrested, among them two ringleaders identified only as Mr. A (35) and Mr. B (40).
Three of the suspects remain in custody, while others face prosecution for hacking, fraud, and violations of the Information and Communications Network Act.
Celebrities, Lawyers, and Investors Targeted in South Korea’s Largest SIM-Swap Fraud.
According to South Korean news agency JoongAng, investigators said the hackers infiltrated six poorly secured websites belonging to government agencies, IT platforms, and financial institutions between July 2023 and April 2024.
By exploiting these vulnerabilities, they stole the personal data of 258 victims, including resident registration numbers and financial authentication information.
The victims included 75 businesspeople, 11 lawyers and officials, 12 celebrities, six athletes, and 28 virtual asset investors. Collectively, their accounts held an estimated 55.22 trillion won, with some balances exceeding 12 trillion won.
The hackers allegedly prioritized wealthy individuals unlikely to respond quickly, such as those serving prison sentences or military enlistments. Using stolen identities, the group fraudulently opened 118 mobile phone accounts in the names of 89 victims.
These SIM cards enabled them to bypass authentication systems and siphon funds directly from bank and crypto accounts. In total, 39 billion won was stolen from 16 victims, while an additional 25 billion won in attempted thefts was blocked by financial institutions.
The largest single loss was 21.3 billion won in virtual assets. Police also confirmed that BTS star Jungkook was targeted in the scheme, with hackers attempting to steal 8.4 billion won worth of HYBE stock.
However, unusual activity was flagged by financial institutions, and Jungkook’s agency suspended the transactions before losses occurred.
Authorities noted that 12.8 billion won has already been recovered through measures such as freezing accounts and blocking withdrawals. Still, the investigation highlighted a growing vulnerability in South Korea’s non-face-to-face authentication system, which the group manipulated to carry out its crimes.
The police crackdown began after the first report of unauthorized phone activations was filed at Namdaemun Police Station in September 2023. The suspects were gradually apprehended between November and April.
The ringleaders, who traveled frequently between China and Thailand, were caught in Bangkok in May following international cooperation between Seoul police, Thai authorities, and Interpol.
Mr. A...
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