Beware of Fraud! Crypto Army Coin Not Owned by Korean Boyband BTS

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A cryptocurrency called Army Coin has been registered on the Bitget crypto trading platform. Does this belong to Korean boyband BTS?

In its promotion, Army Coin is said to be providing lifelong support to BTS so that the members of the boyband can focus completely on making music and art for the rest of their lives.

On this matter, Hybe, BTS’s agency, stated that it had nothing to do with Army Coin and threatened to take legal action against Bitget for violating portrait rights.

Hybe also emphasized that Bitget had used BTS to promote Army Coin without the company’s permission.

“We have received information that Army Coin has been registered with Bitget, a crypto exchange platform located in Singapore. However, we have nothing to do with the cryptocurrency at all,” Hybe wrote in his official statement, quoted from The Korea Herald, Wednesday (11/10/2011).

Hybe added that several parties had spread false information on messaging apps saying Army Coin would generate profits for BTS.

“Anyone who experiences financial loss (after buying the coins) should report it to the nearest police station or to the investigative authorities,” Hybe said.

In response to Hybe’s warning, Bitget announced a trading platform and does not create the coins themselves, Bitget will not be responsible for the listed Army Coins.

“But we will keep a close watch on events related to Army Coin. Users should take into account that cryptocurrencies are highly volatile and make a safe investment,” said Bitget.

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