BTS "Unaffiliated with Cryptocurrency ARMY Coin... Legal Action Planned"

BTS/Photo by HYBE

[Asia Economy Reporter Lee Isul] The agency of the group BTS has stated that it is not related to the cryptocurrency 'ARMY COIN' listed on a coin exchange in Singapore.

On the 28th, the agency HYBE said, "We have confirmed that 'ARMY COIN' is listed on a coin exchange presumed to be located in Singapore," and added, "We have no relation to this cryptocurrency, and it was issued without any discussion with us."

They continued, "The use of BTS's likeness for the promotion of this cryptocurrency was carried out without any consultation with Big Hit Music, the agency."

The agency stated, "We are currently investigating legal violations, including infringement of the artist's portrait rights without consultation with the agency, and we will take all legal actions regarding the infringements and violations."

They also warned, "It has been confirmed that this coin is recruiting traders by spreading false information in group chats such as 'created for BTS' and 'exists to maximize BTS's profits,' so please be especially cautious to avoid any damage."

'ARMY' is the name of BTS's fan club. The name 'ARMY' was created with the meaning that bulletproof vests and the military always go together.

On the 27th, a coin named ARMY COIN, identical to the fan club name 'ARMY,' was listed on an exchange, leading to speculation that it was a coin made for BTS.

Full statement from the agency below

Hello,

This is HYBE.

Today, through media inquiries and reports, we confirmed that 'ARMY COIN' is listed on a coin exchange presumed to be located in Singapore.

We have no relation to this cryptocurrency, and it was issued without any discussion with us. Also, the use of BTS's likeness for the promotion of this cryptocurrency was carried out without any consultation with Big Hit Music, the agency.

We are currently investigating legal violations, including infringement of the artist's portrait rights without consultation with the agency, and we will take all legal actions regarding the infringements and violations.

It has been confirmed that this coin is recruiting traders by spreading false information in group chats such as 'created for BTS' and 'exists to maximize BTS's profits,' so please be especially cautious to avoid any damage. If you have suffered financial damage, please report immediately to the nearest police station or investigative agency.

Thank you.

This content was produced with the assistance of AI translation services.