HYBE Steps In To Protect BTS Fans From An “ARMY COIN” Cryptocurrency Scam

HYBE intends to take legal action.

BTS‘s agency is stepping in to protect their artist’s rights — and ARMY’s wallets.

| HYBE Labels/Facebook

Today, the HYBE Corporation confirmed that an “ARMY COIN” has been listed on Bitget, a cryptocurrency exchange based in Singapore. Neither HYBE nor its subsidiaries are affiliated with the coin that has been named after BTS’s fandom.

BTS | Big Hit Music/Facebook

The “ARMY COIN,” issued without HYBE’s consultation or approval, infringes on BTS’s exclusive portrait rights. Currently, HYBE is investigating “ARMY COIN” and plans to take legal action.

According to HYBE, the coin’s name is not a coincidence; it is intentional. Its creators have copied the design of BTS’s ARMY Bomb lightstick and marketed “ARMY COIN” as a way to financially support the group so that the members “do not have to worry about surviving.”  In other words, the “ARMY COIN” intends to exploit fans’ love to turn a profit.

| Bitget/Facebook

HYBE is now advising victims of the scam to report it to the police.

Source: HYBE