Park Gyuri and Cryptocurrency Controversy
Park Gyuri, who rose to fame as one of the original members of the K-pop girl group Kara, finds herself at the center of renewed legal scrutiny surrounding cryptocurrency investments. This resurgence of allegations comes just days after she testified in court denying any involvement in purported fraudulent activities orchestrated by her former partner, Song Ja-ho, the alleged architect behind the controversial Pica Coin.
Pica Coin and Legal Proceedings
Pica Coin, a lesser-known altcoin with an artistic theme, was promoted as part of an innovative venture, with Park holding the titles of Chief Communications Officer and Advisor at the time of its introduction. In her recent court appearance at the Seoul Southern District Court, she argued that she believed she was part of a legitimate art-tech initiative, emphasizing her role in organizing exhibitions and handling publicity as a full-time curator.
As part of the unfolding case, Park revealed that she invested 60 million won (approximately $43,566) into Pica Coin back in April 2021, funding her investment by liquidating her Bitcoin holdings. Unfortunately, her stakes diminished dramatically when Pica Coin was removed from the Upbit exchange two months later, leading her to claim,
“I lost everything.”
Contrasting Accounts
In contrast, the CEO of Pica Coin, Seong Hae-joong, contested Park’s version of events, stating that she actually received a cash compensation of 60 million won from Song in December 2021, following their breakup in September that same year. Seong provided alleged chat transcripts from KakaoTalk where Park inquired about the timing of the payment, indicating previously discussed amounts and suggesting a correction from 50 million to 60 million won.
Seong further characterized Park’s statements as misleading and lacking substantiation, while Park’s agency, Big Boss Entertainment, has refrained from making detailed comments on the allegations. In her own expressed frustrations on social media, Park has questioned why she is still entangled in matters related to Pica Coin.
Ongoing Investigation
The investigation into Song’s activities has been serious enough to result in his arrest in 2023, with charges of fraud and breach of trust already filed against him. He stands accused of misrepresenting artworks to attract investments he did not possess and is also suspected of manipulating the token’s market value for his personal gain.
Kara’s Comeback
Kara, originally debuted in 2007 and disbanded in 2016, made a comeback in 2022 and is currently engaged in an Asian tour, with scheduled performances in Yokohama, Japan, and Macau set for August 2023.
As this legal drama unfolds, Park Gyuri’s dual identity as a K-pop star and a figure caught in a crypto controversy continues to capture public attention, further complicating her personal and professional narrative.
