K-pop Stars Choi Si-won, Cho Hyun-young Deny South Korean ‘Scam Coin’ Involvement
K-pop stars Choi Si-won and Cho Hyun-young have denied allegations that they were involved in promoting so-called South Korean “scam coins.”
Their denials come amid ongoing controversy and suspicions surrounding the blockchain-powered sports platform Winnerz.
A growing number of top-level South Korean YouTubers and celebrities have been linked to the controversy since anonymous crypto investors accused Winnerz of running a “multi-level fraud” scheme.
Choi Si-won, also known mononymously as Siwon, is a member of the chart-topping K-pop group Super Junior.
Cho Hyun-young, also known mononymously as Hyunyoung, is a former member of the all-female K-pop group Rainbow.
In recent years, both Choi and Cho have become YouTubers, amassing over half a million and 278,000 subscribers respectively. In a community post on her YouTube page, Cho wrote:
“I have nothing to do with the current controversy related to […] Winnerz Coin.”
Scores of celebrities, including the World Cup semi-finalist soccer star Lee Chun-soo and some of South Korea’s most popular YouTube and social media influencers, have been implicated in Winnerz-related controversy this month.
However, it appears that the allegations surrounding Cho and Choi center on another suspected “scam coin” named The Youth Pay (TYP).
The Youth Pay is an Ethereum-based coin and is the brainchild of an organization that calls itself the Korea Youth Commission.
Its organizers claim that the coin is a tool created to help promote a youth-related policy to the government and the South Korean National Assembly.
The Korea Youth Committee awarded both Choi Si-won and Cho with certificates in 2022, a fact that has caused many to question if they or other K-pop stars were paid to promote TYP.
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