Hackers target BTS Jungkook’s HYBE shares post-enlistment; company launches probe — everything to know

BTS' Jungkook became the victim of a terrifying hack that led to the theft of $5.7 million worth of shares from his HYBE portfolio

In a shocking turn of events, BTS' youngest member, Jeon Jungkook was recently the victim of a terrifying hack that led to the theft of $5.7 million worth of shares from his HYBE portfolio. This wasn’t your average cyberattack — the hacker targeted Jungkook’s financial assets, executing a meticulously planned fraud scheme that has shocked fans.

BTS’ Golden Maknae Jungkook

Here's what happened

According to reports from Yonhap News Agency, this unsettling chain of events began in January 2024; just after Jungkook started his mandatory military service, the hacker was able to open multiple unauthorised accounts in Jungkook's name. In one of these fraudulent accounts, the hacker transferred a staggering 33,000 shares from Jungkook’s HYBE holdings but things didn’t stop there! The perpetrators went even further, selling 500 of those shares to a third-party investor, all without the K-pop artist's knowledge or consent.

On January 6, 2024, the hacker created three separate securities accounts under Jungkook's name; using these accounts, the thief transferred 33,500 shares of HYBE, which belonged to the artist, without his authorisation. 500 of those shares were sold to an unsuspecting third party, while the remaining 33,000 shares were valued at around 8.316 billion Korean Won.

Authorities have since revealed that the third-party buyer paid in cryptocurrency, specifically 20,000 USDT (Tether), to the hacker. Despite the sophisticated nature of the scheme, the hacker's identity remains unknown. Investigators have also speculated that the person behind the attack may have had an intimate understanding of Jungkook’s financial dealings, given the meticulous planning required for the fraud.

Legal battle and the court's verdict

When Jungkook and his team discovered the theft, they wasted no time taking legal action, filing a complaint with the Seoul Western District Court. The court ruled in favour of Jungkook, emphasising that the sale of the shares was invalid due to the lack of a legitimate stock transfer agreement. The ruling officially recognized Jungkook as a victim of identity theft.

Further legal measures were taken, with Jungkook’s team filing a lawsuit to reclaim the 500 shares that had been sold to a third party. The Seoul Western District Court also ruled in Jungkook’s favour regarding the return of these shares, ordering the third party to return them last month. Despite these victories, the hacker has still not been apprehended.

BigHit's response

In the wake of this frightening incident, Jungkook’s agency, BigHit Music, swiftly took action to mitigate any further losses. The company acted quickly to freeze the accounts and restore the value of the stolen shares, ensuring that no substantial damage occurred. BigHit Music also issued a statement, explaining that additional measures were taken to enhance security surrounding both the artist’s personal and financial information.

“As soon as the company and the artist became aware of the criminal activity, we took measures such as suspending payments to the account and restoring the original value to prevent substantial damage,” BigHit Music stated. “Apart from legal measures, we have also taken steps to strengthen information security related to artists' personal and device information to prevent future incidents.”

Amid all of this turmoil, Jungkook is currently serving his mandatory military duty, having enlisted on December 12, 2023. His fans and the public alike await his discharge, which is scheduled for June 11 this year.